Limit of cashdeposit in a current a/c

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Ritesh Gupta (Querist)
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13 November 2016 I have textile wholesale business and havinga hefty cash amount in my daily cash book not deposited in bank ac..of navratri,diwali,and coming marriage seasons..I maintain all Ac's properly, and last year's Ac's are properly furnished, audited,and returned in income tax department..which had been cleared...I want to know how I now deposit the cash in bank..in one step or more, and is any limit on amount...pls help me..

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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13 November 2016 You will not face any problem in depositing genuine business cash receipts. It is the practice to deposit cash receipts in the bank on the next working day. You will face problem in accumulated cash.

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