Regarding deposit of cash

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Anmol Singla (Querist)
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11 November 2016 Dear experts; my father income is below 2.5lkh Per annum. But we have saving up to RS.3lkh in hand. how can we deposit this. can I deposit some amount in my account as I am above 18. if so then how much money can I deposited.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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11 November 2016 Deposit 2.50 lacs in your father's ac and balance fifty thousand in your ac.

Anmol Singla

Anmol Singla (Querist)
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12 November 2016 can I deposit more than 50000 RS. in my account

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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12 November 2016 Yes you can do it...................

Anmol Singla

Anmol Singla (Querist)
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12 November 2016 how much can I deposit? what is. the maximum limit if my father already deposited 2.5 lkh in his account? plz

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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12 November 2016 The limit is 2.50 lacs.

Anmol Singla

Anmol Singla (Querist)
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13 November 2016 means I can also deposit RS.2.5 lkh in my account

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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13 November 2016 Don't deposit other's cash in your ac other than your father's.

Anmol Singla

Anmol Singla (Querist)
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13 November 2016 OK thanks a lot but I can conclude that each family member can deposit upto RS.250000 in his account

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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17 October 2021 No that conclusion is not as per law. The solution is given to you as to the best of saving your cash, with least of possible hurdles.

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