Cash deposit in current account

Are wholesalers also allowed to take the old notes as per the gov notification or announcement ?

You can Deposit upto 12.5 lakh in your account .upto that limit Bank Will Not report to Income tax . but above Rs 12.5 lakh Bank will Report to the Income tax Department .

According to me the exemption is for medical stores / retailers to accept old notes of  500 and  1000 from consumers till the specified date. However such an exemption had not been  extended to wholesalers.. There is a clarification sought by the association on this regards..
So first kindly check for the exemption and then only further decide whether and from when to accept or deposit the same.

you should deposite only single time and according to your books.only amount permitted by books can be deposited to avoid further scrutiny.

Quantum of amount is irrelevent if books permit

what to do if i had cash of Rs 800000 on 8th nov. I want to deposit these old notes in my current account. Should i deposit at one time or in parts??? I feel unsecured going out and depositing it at one time with this large amount, and if i deposit it in parts then, the question will be I am doing business on regular basis means how can i deposit 8th nov cash till 30 dec??????

plz reply

Thanks 

simply you can prepare two balance sheets showing a closing cash balance of rs 800000 on 8th and opening balance as on 9 and depositing it in bank any time