Bank itr income tax dpt

I plan to employ 500 people in a business building project which will initially not give any return, later off course I hope it will yield something. I am planning to ask them for a small security deposit of Rs 10000 for 6 months so that they don't run off. The problem is if my newly made bank account shows 500* 10000= 50 lac rupees will it pose a threat of arrest fraud or scam against me even holding such a large amount. If I invest this amount also in my business or share market and I earn something of this money will it be wrongdoing an catch eye of the government. My another worry is as I said my new bank account . I have always used my parents account. It's first time my own bank account. If I am getting money from outsiders amounting between 2 to 5 crores will it be looked with suspicion causing arrest . The business is cosmetics and skin care related. Initially I don't want to start a company I'll keep everything under a single account as an individual. Please answer in detail . I am anxious as so many bank frauds are coming out these days. I want to stay clean
Replies (3)

Employment contracts of yr kind would attract bonded labor regulation, as you propse to enslave them by not running away from you, i think you are getting into complications, better approach venture funds uf your peoject idea is woth the trouble,

 

If you are having some start up naturally could tell the world you are to be trusted; none would risk his one rupee too, without real ground knowlege of the promoter pls 

No sir i already have the capital. The problem is the sector i am talking about its difficult to get good people stay longer so i thought of contract. There are various places where security deposita are required. So i can also do the same. Additionally i thought of utilizing that money. Another point is capital is in form of cash by friends and relative i just thought if i deposit large amount in banks will it be a problem please note i am willing to give any tax arising but here i am just asking whether huge transactions will cause any problem . Just to safeguard myself from any illegal activity as a precautionary note
Thank you for your reply

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