Menu
Deposit cash in salary account
I withdrew Rs 1 lac cash from salary account through ATM as my friend needed it. Now he returned the money. I want to know whether I would be able to deposit the cash Rs 1 Lac in my salary account? Would I be questioned by IT Dep? If yes, then can I show them that I withdrew the cash from ATM and now I would like to deposit it.
Replies (5)
ofcourse..you can deposit it back to account... no problem in that.. you can explain it if asked by dept..
YEs you can deposit the cash in same account..
but does it friend have the source from where he got money...
also it would be better if u deposit money 20k at a time...rather than whole 1 lakh
but does it friend have the source from where he got money...
also it would be better if u deposit money 20k at a time...rather than whole 1 lakh
You will be levied Penalty of 100000 as you have forwarded loan in excess of 20000 in form of cash.
You can deposit the cash. Don't show that you gave loan in cash in your books of accounts. deposit less than Rs.50000 at one time
yes . u can deposite whole amount into Bank and give clearification about happen to it dept.
If AO agreed then fine .....
Recent Threads
- Family Pension Army
- Waste Management services
- Seeking Clarity: New Transport Allowance Limits (D
- Query regarding Consolidated Gift Deed for Bank Tr
- TDS u/s194IB - Joint Ownership
- Free GST Reconciliation Tool in Google Sheets R
- NRI return after due date refund case
- TDS u/s 194J - training honorarium
- WHERE TO REGISTER UNDER PTRC AND PTEC ACTS ?
- Key Corporate Compliance Requirements for Private
Related Threads
CAclubindia
