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Cash deposit

Sagar Kapatel (10 Points)

27 January 2020  
If i m deposit the amount about 50000 to 100000 as i have a yearly salary is about below 150000 in that case any query should be raise???

 2 Replies

Kapadia Pravin (17209 Points)
Replied 27 January 2020

There is no point to worry. Relax....

CA Kiran Sutrave (CA) (424 Points)
Replied 28 January 2020

If your yearly salary is below Rs. 1.5 Lakhs but you are depositing say Rs. 1 Lakh, then question may arise. You need to disclose correct income and pay taxes in India. How, when etc. depends on various factors.

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