Cash withdrawl
This query is : Resolved
04 April 2017
Please confirm that if i withdraw Rs 5,00,000. from my current account then whether it will attract penalty or not ?
04 April 2017
Better to go for transactions other than cash, there is no such penalty as per income tax rules, but cash expenses above 3 L attracts 100% penalty {in addition to that u must also keep in mind the limit mentioned u/s 40A(3)}
06 April 2017
A press release has been issued. Cash withdrawal from bank is not included under 269ST Below is the link https://www.incometaxindia.gov.in/Lists/Press%20Releases/Attachments/610/Press-Release-on-promoting-Digital-Economy-5-4-2017.pdf
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- EPF FULL & FINAL RULES IN 2026
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Experts need help
- FTS Taxable under 115A
- Eway bill generation from place other than registeted
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- Rental income gst and it purpose
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
