What is the Limit Allowed to Keep Cash at Home ??
i Heard its 50000. Any Idea..
Please Inform ...
Thanx
Karthik Bhaktha (CA-Student) (126 Points)
23 April 2014What is the Limit Allowed to Keep Cash at Home ??
i Heard its 50000. Any Idea..
Please Inform ...
Thanx
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2010 Points)
Replied 23 April 2014
There is no such limit
sourav jain
(INTERNAL AUDITOR)
(128 Points)
Replied 23 April 2014
There is no such limit for keeping cash at home....
Bt while calcualting wealth tax any cash excess/ above Rs 50000 will be considered as wealth and tax @ 1% on wealth above 30lakhs is to be paid.
Karthik Bhaktha
(CA-Student)
(126 Points)
Replied 23 April 2014
When and hOW wealth Tax is Calculated??
Zoya Khan
(ABC)
(800 Points)
Replied 23 April 2014
There is no limit but when we calculate wealth tax,the limit is 50000. FOr wealth tax calculation we take into account varoious assets held by the assessee. Aslo assets are only as per Wealth tax and does not have generic meaning.
SATYADEO CHOUBEY
(SENIOR ACCOUNTANT)
(22 Points)
Replied 23 April 2014
VIKASH KUMAR JAIN
(Audit Executive)
(711 Points)
Replied 24 April 2014
sandeep
(Chartered Accountant)
(58 Points)
Replied 26 April 2014
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