Urgent please help out.... charrges for cash withdrawl from

This query is : Resolved

CA Aditya (Querist)
Follow

17 April 2012 Dear All,,

My client is having both current a\c and SB in co-operative bank.

I just want to cheque is there any charges for cash withdrawl for amount Rs 1,00,000( one lakh)...both in SB and Current ac...

charges means any taxes and any audit issues for one lakh with withdrawl or should i suggest him 25000*4 instead of one lakh as one shot......

Swift reply is highly appreciated......

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
Follow

17 April 2012 No such charges will be their. But it may be depending on the terms and conditions of the bank. So better to approach your bank and ask then is any charges for such type transaction. I think their will not be any such type charges in present days at any bank.

And in the case of any audit issue or others utilization of the amount is very important. So you have to prove the expenditure of the amount even though it is Rs.1,000 or less if any query call back from AO or Department.

OM SAI SRI SAI JAI JAI SAI

prateek aanchalia

prateek aanchalia (Expert)
Follow

17 April 2012 any amount withdrawal no charges taken by bank...
for tax purpose when any query arise than u are able to reply that amount withdrwals from the bank a/c where that amount use..
also agree with above reply..
on withdrawal no tax issue arise that time..