Large cash (concurrent audit)
This query is : Resolved
31 October 2015
dear expert
as per the rbi circuller bank need to collect purpose letter again cash transaction =>10 laks per day and cumulative cash transaction =>10 laks also,
e.g if for day ther r 3 cash transaction i.e 1) 11,00,000 2) 4,00,000 3) 5,00,000
and customer provids only 1 purpose letter against 11lakhs transaction so is it ok if he dont provid letter against (4lhks+5lhks) as the total is 9lakhs only which is below 10 lakhs...and if the other 2 transaction total exceed 10 lakhs than only bank needs to collect letter for that..
as per the rbi circuller bank need to collect purpose letter again cash transaction =>10 laks per day and cumulative cash transaction =>10 laks also,
e.g if for day ther r 3 cash transaction i.e 1) 11,00,000 2) 4,00,000 3) 5,00,000
and customer provids only 1 purpose letter against 11lakhs transaction so is it ok if he dont provid letter against (4lhks+5lhks) as the total is 9lakhs only which is below 10 lakhs...and if the other 2 transaction total exceed 10 lakhs than only bank needs to collect letter for that..
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
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Soyabean hsn code and gst rate
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Treatment of Pension ?annuity returns on PMVY
- Salary and pension received from Asian Development Bank
- ITR 2 Short Term gain & Long term gain
- TDS on payment to CHA as per new section
- Sale of Forign Shares
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
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
