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Querist : Anonymous

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02 November 2016 Dear Sir
An assessee who has sold his plot for 22 lacs and withdraw entire amount from his bank a/c. Now I want to ask that what is the allowed limit to keep cash in case of an individual assessee?

Please clarify?

02 November 2016 No limit for keeping cash. It is at owner's risk.

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Querist : Anonymous

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02 November 2016 What kind of risk in the above case?

03 November 2016 theft, burglary, embezzelment etc are some of the risks associated with keeping CASH at home

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Querist : Anonymous

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03 November 2016 Suppose he travels through the train with his cash then what kind of document he should keep with him for the satisfaction of authourties ?

03 November 2016 he can simply keep the bank statement/pass book, as the case may be, to confirm that he has withdrawn 22 lakh from the bank.....the same amount he is carrying with him.


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