Name factor of cash deposit

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 November 2016 If anyone bank a/c jointly created, now he or she want to deposit cash in cash requisition slip mentioning the name whose name is first in joint bank a/c, again he or she want to deposit more money in cash requisition slip by mentioning the second name of joint bank a/c, then is it possible limit of 2.5 lacks cash deposit for each person who are now jointly in same bank a/c.

Sir, Please inform me...for my better knowledge
Thanking You,

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

16 November 2016 Any deposit in excess of 2.50 lacs in an ac will be informed to IT dept by the bankers. Bankers will not note who deposited the amount.

Querist : Anonymous

Querist : Anonymous (Querist)

16 November 2016 If he or she who bank a/c holder who is 61 years old (Sr. Citizen) then IT limit Rs. 3 lacks can it apply...

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

16 November 2016 Yes it should be applicable.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now