Dear Sir,
I am doing business with 4 different companies and depositing cash in company account regularly below 2 lakh which is approximate total 7-8 lakh.for all companies. Is it right or any controversy?
Please advice Can I deposit in cash 2 lakh only for all companyaccounts or 2 lakh per company account.
Your kind cooperation in above shall be highly appreciated.
Regards
Hari Shanker Pathak
" Please advice Can I deposit in cash 2 lakh only for all companyaccounts or 2 lakh per company account."
If all the companies are different identity, issuing separate bills, each/aggregate below 2 lakhs per day, than no problem to deposit 2 lakhs per day per bill/company.
Thank you for your prompt reply. I can deposit cash below 2 lakh in each companyper day to meet our requirements. There will be no issue.
CAclubindia
