banner_ad

Income tax on cash deposit

Others 3559 views 3 replies

Hello Gurus,

I have some queries, I am a salaried person and having per annum package of 10,  If i depositing cash in my account, ( basically from my home town to my work city).

The cash deposit is little large, let's say around 10 lakh.

Is there any tax implication on these transactions or any other govt. related issue can arrise ??

thanks

ghanshyam

 

Replies (3)

transfer it by cheque or u will invite lots of complications, viz cash transaction tax, PAN number metion etc. which will invite investigation for source of cash deposited. 

no much completions... if you have it in white then just deposit in your account.. else you have to route it through other accounts..

i dont think any cash transaction tax.. is levied in india now... Pls share the info if any exists... and there is no need to submit PAN card also...yeah of-course there is some limit for maximum amount...

and yeah.. the money is  white obviously :-)

 

thanks to Somani and Sharma for your replies...

regards,

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details