How much can we draw in cash from our bank account
This query is : Resolved
TARIQUE RIZVI
(Querist)
16 April 2017
How much can we draw in cash from our bank account ? In what cases penalty shall be levied by the income tax department ?
CA R SEETHARAMAN
(Expert)
16 April 2017
No limit for cash drawal from bank. Penalty will be levied u/s 269st for payment in excess of 2 Lacs to a person on a occasion or in connection with an event or for payment of an invoice.
Studentsca
(Expert)
16 April 2017
Provisions of Section 269ST not applicable on bank withdrawls.
CA Gopal Somani
(Expert)
17 April 2017
Bank withdrawal are not covered u/s 269ST
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