Regarding cash deposit after 500 rupees banned issue

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 November 2016 Sir my firm do have 30 lac cash in hand as also reported in my audited financial statement .....can i deposit the same in my bank account ?? will there be any query by it department why havent u deposited the same earlier ???

10 November 2016 If there will b any query as such, then u have to give explanation for that, that Y u kept such a huge cash in hand. If u can explain then its ok, otherwise there may b problem.

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 November 2016 sir what if i do have sufficient cash in hand and i also have cc account and from last one year .. i havent utilized my cc much in last one year ... now i want to deposit the same as the 500 rupees notes are banned the same has been shown in books of account

17 October 2021 Go ahead, if the last year financial statements are audited under any act..


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