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Deposit in respective Bank ac limit

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(Querist)
09 November 2016 what if some one had a cash of Rs 10 lacs of old denomition how to deposit in Bank ac to be on safe side from Income tax perspective?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
10 November 2016 Deposit the amount in less than 10 lacs to avoid penalty.
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Mohammad

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Mohammad (Querist)
10 November 2016 not satisfied by ur reply..sir as per the latest notification a person who wil deposit more than 2.5 lacs in his or her accounts in these 50 days will face penalty of 200 percent penalty?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
10 November 2016 200% penalty will be levied for those who deposit amount 10 lacs and above.
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