Menu
Cash deposit limit
Hi, can any one let me the limit for cash deposit in current account by self
Replies (2)
Ms.Anikita
One can deposit any sum of money into his/her bank account. The provisions of Section 269ST are not applicable to Banking Companies.
The source of cash receipt by the depositor is to be explained to the Income-tax Department if questioned.
If the cash receipt is fallen within the ambit of section 269ST the depositor is liable to pay penalty u/s 271DA.
You are aware the amount of penalty is equal to the receipt of cash.
Best Wishes
SathikondaA
Thank you for the help....
Regards,
Ankita
Recent Topics :
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
Related Topics :
CAclubindia
