Cash deposit

245 views
User Avatar

673 Points Posted on 27 March 2021
cash deposit Rs. 10 lakhs above in loan account will come under AIR INFORMATION.
0 Reply Share Follow
On 27 March 2021 at 08:25 Report
Replies (4)
Quick Summary
Depositing cash exceeding Rs. 10 lakhs into a loan account, whether in a single transaction or multiple times throughout the financial year, is subject to AIR (Annual Information Return) disclosure. It's crucial to be prepared to provide the source of these funds.

User Avatar

Chartered Accountant
24588 Points Posted on 27 March 2021
Whether the cash deposit is made in a single day?
Reply
On 27 March 2021 at 09:10
User Avatar

17269 Points Posted on 27 March 2021
Single or multiple times, it will come under disclosure
Reply
On 27 March 2021 at 11:30
User Avatar

673 Points Posted on 27 March 2021
During financial year 19-20
Reply
On 27 March 2021 at 11:35
User Avatar

17269 Points Posted on 27 March 2021

Anyway, you have to be ready with source of deposit.

Reply
On 27 March 2021 at 12:07

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Export Compliance
  2. Sale of plots in open land
  3. Income tax query
  4. Best CA Inter coaching in laxmi nagar
  5. HOW TO SELL SHARES OF PRIVATE LIMITED COMPANY SOME
  6. Unregistered Association of Persons (AOP) Agreemen
  7. Intimation u/s 245 of income tax act
  8. Ewaybill query
  9. IDS Refund: GSTR-2B Invoice Not Validated in State
  10. Self assessment tax paid not reflected in ITR2 fil

More recent discussions | Post

Related Topics :

Loading