Is it mandatory for banks to report cash deposit in SFT?
If AIS doesn't show any amount of cash deposit but in reality there is cash deposit in the books, so on what basis is the decision to be taken for tax audit ?
2 Replies
Ashwin Kumar
(CA ipcc)
(449 Points)
Replied 22 September 2023
SFT report cash deposits above a certain limit. Just make sure you have a valid source and valid reasoning for the cash deposit.
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 22 September 2023
Verify the bank statement based on the AIS
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