Cash withdrawal limit from bank
This query is : Resolved
16 August 2013
As per Ganesh Babu K. Expert of your club says if we deposit or withdraw an amount more than 10 lakhs in single day, same will be reported to Income Tax Department.
And
As per Siddharth Bhardwaj, Expert of your club says only cash deposit, reported to Income Tax Department not for withdrawl.
Know my question is that how much much can we withdraw from bank in a single day and same not asked by Income Tax Department.
Please advise.
And
As per Siddharth Bhardwaj, Expert of your club says only cash deposit, reported to Income Tax Department not for withdrawl.
Know my question is that how much much can we withdraw from bank in a single day and same not asked by Income Tax Department.
Please advise.
CA. Brijesh Baranwal
(Expert)
17 August 2013
There is no prescribed amount as such.
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