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Cash deposit 2Lac and above
Can i deposit more than 2 lac in cash in my current account under safe eyes? My cash sales exceed more than 3 lacs sometimes in a week. I did provided bill to my customers with their GST number. So can i deposit say 4 lac cash in a day in my account? Won't it attract IT authorities for this transaction?
Replies (1)
When you have received the cash by legitimate way, whatever be the color of the eyes of the authority, you should not be bothered....
As for your knowledge, any amount deposited for Rs. 50,000/- or above in single or multiple challan/s per day is reported by your bank...
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