If i m deposit the amount about 50000 to 100000 as i have a yearly salary is about below 150000 in that case any query should be raise???
Replies (2)
Quick Summary
Depositing a significant amount of cash, especially if it's substantially higher than your annual salary, could potentially raise questions. While a deposit of £50,000 to £100,000 might seem concerning if your yearly salary is under £150,000, it's important to ensure your declared income and tax payments are accurate. The specifics of how and when such queries might arise depend on various factors related to Indian tax laws.
If your yearly salary is below Rs. 1.5 Lakhs but you are depositing say Rs. 1 Lakh, then question may arise. You need to disclose correct income and pay taxes in India. How, when etc. depends on various factors.
Leave a Reply
Your are not logged in . Please login to post replies