Respected experts
I am a tax payer . I run a coaching . But i dont deposit my money in my bank account .
Now my question is ...
1) Is it really necessary to deposit or keep money in bank , if i am a tax payer ?
2) I purchased 20 chairs in cash . I payed 40000 cash . since i dont use my bank account to make an transaction , will it make any issue ?
Somebody told me , i want to pay someone above 20000 , i should use bank account . is it really necessary ?