Cash deposit during elections

435 views 1 replies

Can a employee of a company carry cash below 10 lakhs for depositing in company's bank account during state election.

What are the necessary documents employee should carry along

Replies (1)

During state elections, the rules for carrying cash are a bit more stringent.

According to the Election Commission of India, an employee of a company can carry cash below ₹10 lakhs for depositing in the company's bank account, but there are some conditions and necessary documents to be carried along.¹

*Necessary Documents:* - A letter from the company authorizing the employee to carry and deposit the cash - A copy of the company's ID proof (PAN card, GST registration, etc.) - A copy of the employee's ID proof (Aadhaar card, driving license, etc.) -

 A cash deposit slip or a receipt from the bank *Rules to Keep in Mind:* - Cash carrying limit: ₹50,000 to ₹10 lakhs (depending on the state and local authorities) -

 The employee should be able to provide a valid explanation for carrying the cash -

The cash should be deposited in the company's bank account within a reasonable time frame It's always a good idea to check with the local authorities or the company's auditor to confirm the specific rules and regulations in your area.

 Additionally, it's recommended to avoid carrying large amounts of cash and instead use digital payment methods or cheques to minimize any potential issues.²

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 15 July 2026
CA Articles

Kinjal H Shah & Co.

Mumbai

CA Foundation

View Details
Company
23 July 2026
CA Inter

Vikram Jadhav and Company

Pune

CA Inter

View Details
Company
06 July 2026
Senior Accountant

Arvindkumar Maniar & Co.

Rajkot

CA

View Details
Company
16 July 2026
Manager - Finance & Accounts

Aliens Group

Hyderabad

CA Final

View Details
Company
ARTICLESHIP 10 July 2026
Article Assistant

N S Gokhale & Co

Thane

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
2 posts Article assistant and Articleship completed students

Chirag N Shah & Associates

Mumbai

CA Inter

View Details
Company
11 July 2026
CA semi qualified

Vakilsearch.com

Chennai

CA Inter

View Details
Company
ARTICLESHIP 14 July 2026
Article Assistants

R Shyam and Associates

New Delhi

CA Final

View Details