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Cash deposit 2000000 in current account
what if a company want urgent need or 20 lac bank balance but having available cash.which its books account states 2800000/- cash on hand
Replies (11)
Withdraw....rs.20 lacs.
sec 269 ST IS NOT APPLICABLE IN CASE OF WITHDRAWAL FROM CURRENT ACCOUNT.
BUSINESS PAYS WAGES EITHER FORTNIGHTLY OR MONTHLY.
sec 269 ST IS NOT APPLICABLE IN CASE OF WITHDRAWAL FROM CURRENT ACCOUNT.
BUSINESS PAYS WAGES EITHER FORTNIGHTLY OR MONTHLY.
The case is firm having 20 lac cash in hand
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.
so safe to deposit it in 3 lot.
so safe to deposit it in 3 lot.
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.
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.
So sabyasachi what is the way to deposit 20 lac in bank Account. If cash on hand of firm is 28 lac in the books of accounts
Do u have a current account ?
Yes, the firm has current account
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.
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.
No problem, deposit it.
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.
No problem, deposit it.
Thanks abhishek but may i deposit 2000000 within 2 days with 2 current account in different Banks
Abhishek I hv never PROMPTED THAT BANK NBFC CANNOT ACCEPT..
YOU INTERPREATED WRONGLY.
HOWEVRR U INTERPRETATED WRONGLY.
YOU INTERPREATED WRONGLY.
HOWEVRR U INTERPRETATED WRONGLY.
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