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Cash withdraw by proprietor

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(Querist)
16 September 2020 how much cash can a proprietor able to withdraw from business in a financial year and a single day
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
16 September 2020 No limits as no other person is involved. It's his business fully owned by him. It's like withdrawal of cash from his bank account.
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
16 September 2020 Proprietor can withdraw the amount from your SB or CA by way of cash as and when you require. There will be no problem. But banker will furnish the details of large amount of cash withdrawals I.e more than 10 lakh to Income tax department as statement of Financial Transaction report by Banker
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