If as per return cash is available, deposit it in 3 lot of 7-8 lakh each day. If u deposit 10 lakh OR above on a single day, bank will send the report to department.
Abhishek u are wrong it seems. Limit is Rs. 2 lakhs. If u receive the amount in account payee chq its not an issue. government , banks and companies registered under micro finance act / NBFC.
Segregate for 10 ten days. deposit it. neanwhile increase cash in safe and cas in transit insurance limit to 20 lacs. this willl safeguard for any other unforseen problems. intimate the bank about the same.
Mr mukherjee, u misunderstood the law 269ST says u can receive max 2lkh for each sale transaction. This section is not applicable to banking co if bank receive cash.
And there is no link of sec 269ST with the query. His firm has already cash in hand of 28lkh as per return, he want to deposit 20lkh in bank.
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