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Effect of demonetisation

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 November 2016 Dear sir, I have been filing my it return for past 3 years and I have a it file of 7.32lacs
Now I have liquid cash of 48500 ( 500 & 1000 notes) and some more at my home town can I deposit entire amount? what's the max limit ? what would be the consequences?
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CS Advocate Abhishek Goyal

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CS Advocate Abhishek Goyal (Expert)
11 November 2016 It would be better if you deposit upto Rs. 250000/- of cash as more than that would be on income tax radar.
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