Recurring deposit and Fixed deposit query

381 views 3 replies

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.

Thanks

Replies (3)
Never do that, first all cash transaction above 2lkh is prohibated undee it law
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
my father was holding savings account with a bank with my Mother as the joint holder. 
He also had a Fixed Deposit with the same bank. The FD certificate was misplaced by my father.  Recently my father expired in 2023 and my Mother had expired in year 2021 . I am the sole nominee to both the savings A/c and this FD account. As a part of the death claim the FD amount and SB accounts was to be transferred to my savings account and their account closed in your system. However as per the branch I need to file police complaint, apply advertisement in local and regional paper. Since im the nominee cant the FD and savings amount be transferred to my account and their account closed. 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
06 July 2026
Accountant

Agarwal Anoop and Associates

Noida

CA Final

View Details
Company
23 July 2026
Senior Accountant

Felicity Adobe LLP

Bengaluru

CA Inter

View Details
Company
21 July 2026
Chartered Accountant

Keshri & Associates

Thiruvananthapuram

CA

View Details
Company
ARTICLESHIP 11 July 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 17 July 2026
Article Assistant and B.com pass

BANSAL YOGESH AND CO

Gautam Budh Nagar

B.Com

View Details
Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
ARTICLESHIP 30 June 2026
Article Assistant or Paid Assistant

VIKAS VERMA & CO

New Delhi

Others

View Details
Company
Featured 18 July 2026
Senior Manager- Finance & Accounts

apricus india

Ahmedabad

CA

View Details