One of my senior citizen friends wants to deposit cash of Rs.3 lacs for making an FD in bank. Then what precautions does he need to take. the source of cash is 25% from own savings balance received from a property deal. Please advise
Thanks
GR Babu
Menu
Cash deposit
Replies (2)
since you have the source for that fund ....there will be no problem....interest received thereon will disallowed if it's above rs 10000
If the total income for the year is not greater than 3L (<80yrs) then submit 15H to avoid TdS on interest received. this limit is 5L for >= 80yrs
Recent Topics :
- TDS on rent paid to RNOR Landlord. Can RNOR US tax
- PAN CANCELLATION OF A DISSOLVED PARTNERSHIP FIRM
- Transport agency accounting entry in purchase &
- REGARDING HSN CODE FOR WASHING JOB CHARGES
- Advance Tax Due Date 2026
- Query – Interest on Capital Received by Part
- Query - Section 164(2)(a) – Interpretation o
- Submission for Expert Opinion on Rectification of
- NRI since March 2023 – resident savings acco
- My All-Time Top 15 Indian Web Series
Related Topics :
CAclubindia
