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Recurring deposit and Fixed deposit query


Hi sir/mam, I am working in unorganized sector.. have sold a house for 30 lakh. the buyer gave 20 lakh in cheque and 10 lakh in cash. I want to deposit 10 lakh as fixed deposit. is it possible atleast 5 lakh into fixed deposit ?

or shall i split it in recurring deposit. ? 

if not, what should i do ? please resolve my query.


 2 Replies

ajeet singh (1285 Points)
Replied 22 October 2021

Never do that, first all cash transaction above 2lkh is prohibated undee it law

Sourav (Student) (23791 Points)
Replied 22 October 2021

You should deposit the cash amount in bank account under small divisions like 100000 rupees in a day etc.. after depositing all of the amount you should fixed deposit such amount then no problem will happen

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