banner_ad

Cash deposit during elections

382 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


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details