Charges by bank on deposit of cash in current account

Save Share

This query is : Open

SAGAR BAJPAI (Querist)
Follow

17 October 2017 Respected sir/madam, My Client have a current account in syndicate bank.Whenever he deposits cash exceeding rs100000, bank deduct charges rs 250.My query is that all the banks are doing same thing? Is there any remedy to avoid these charges?

Message likes : 1 times

RAJA P M

RAJA P M (Expert)
Follow

20 October 2017 Banks deduct cash deposit charges their Terms & Conditions. Better to avoid cheque via deposits or go to ask Bank's norms....

Dr. ShamsheerKhan

Dr. ShamsheerKhan (Expert)
Follow

20 October 2017 More or less everyone is doing the same you cannot avoid search things if you do transactions in cash. This is the foreseeable initiative initiated by government to promote cashless economy. You cannot escape from this.

Dr. ShamsheerKhan

Dr. ShamsheerKhan (Expert)
Follow

20 October 2017 More or less every bank is doing the same you cannot avoid such things if you do transactions in cash. This is the foreseeable initiative initiated by government to promote cashless economy. You cannot escape from this.

Dr. ShamsheerKhan

Dr. ShamsheerKhan (Expert)
Follow

20 October 2017 Add your GSTIN to your bank records so that at least the GST part of the charges deducted by them shall be claimed by us ITC

SAGAR BAJPAI

SAGAR BAJPAI (Querist)
Follow

20 October 2017 Thankyou for your kind information and happy dewali

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!