Hi tell me what is then compliance requirements needs to be followed as per statute for a company which is withdrawing any amount equal or greater than Rs. 10,00,000/- by cheque from its bank a/c!
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Compliance to be followed if withdrawal exceeds rs.10,00,000
Replies (3)
There are no compliances as such when a company withdraws any amount from the bank.
If the company is withdrawing the amount in cash, then it will have to pay the BCTT as applicable. Otherwise there are no compliances.
If possible, please elaborate your query.
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