Regarding cash deposit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 November 2016
dear sir, i am a small business person without gst number.i do not return file of sale tax ( whether some ca told not necessary to have gst number in under 4000000 per annum business) . i have an income tax file of 300000.i have a saving account with my number and a current account with my firm name ( i am proprietor). pan number is already given in banks. please suggest me if i have cash 400000 in my hand, how should i deposit in bank?can i deposit 200000 in my saving and 200000 in my current account? please help.
13 November 2016
No problem in depositing up to 2.50 lacs. Have proof for source of income for deposits in excess 2.50 lacs. Depositing in two accounts of the same person exceeding the limit may not be allowed unless sources are proved.
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