Limit of cash in hand
Querist : Anonymous
Querist : Anonymous
Hence, take care for all the above aspects while keeping cash in hand of higher value or amount.
As regards wealth tax is concerned it is for payment of tax on wealth and a limit has been prescribed that if you hold more than this limit you have to pay the Wealth Tax but for Income Tax there is no section which directs you to hold cash up to any limit but the expenses claimed can be disallowed as indicated above.
Querist : Anonymous
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