REGARDING CASH TRANSACTION IN SAVING A/C
This query is : Resolved
14 August 2010
I WOULD LIKE TO KNOW WHEN A PERSON IS LIABLE TO FILE THE RETURN IF HE IS DEPOSITING CASH IN HIS SAVING A/C IN REGULAR INTERVAL (IN CASE OF PAN HOLDER). WHAT IS THE MAXIMUM LIMIT OF CASH DEPOSITING IN SAVING A/C. WHAT PROBLEMS CAN BE OCCUR?
14 August 2010
THERE IS NO PROBLEM TO DEPOSIT CASH IN SAVINGS ACCOUNT EXCEEDING 1000000 IN A YEAR.
14 August 2010
If cash is deposited in savings bank account aggregating to ten lakhs rupees or more in a year the bank will file the said details in form 61A, called annual information return, to the income tax department. Conseqently, the tax department,may ask you the source of the deposits whether you had filed income tax return or not.
14 August 2010
cash deposits seek pan no after 49999 except 4 metro does not allow cash deposit over 20000.
14 August 2010
AGREED WITH MR TARANJIT SINGH
15 August 2010
yes, agreed with experts,
transaction or deposit of any high numbered fund, the transaction person has to give the details or source of fund from where he/she has received if dept. ask if they not find your IT return in their data. and also now every bank PAN no. is important to deposit or transfer any high cash to another or same person a/c. and for other deposit & investments it is also important to quote depositor's pan.
transaction or deposit of any high numbered fund, the transaction person has to give the details or source of fund from where he/she has received if dept. ask if they not find your IT return in their data. and also now every bank PAN no. is important to deposit or transfer any high cash to another or same person a/c. and for other deposit & investments it is also important to quote depositor's pan.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- Relief u/s Section 89
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Specified Profession
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
