can I deposit 40laks cheque in my saving bank account... with out any tax?
plz tell me how much money can we deposit in saving bank account ????
Tax with SB Account
NARENDER GUGULOTHU (7 Points)
08 May 2017NARENDER GUGULOTHU (7 Points)
08 May 2017can I deposit 40laks cheque in my saving bank account... with out any tax?
plz tell me how much money can we deposit in saving bank account ????
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160292 Points)
Replied 08 May 2017
"can I deposit 40laks cheque in my saving bank account... with out any tax?"
Why not, tax liability arises if the amount is taxable receipt!!
CA Rashmi Gandhi
(Chartered Accountant)
(86204 Points)
Replied 08 May 2017
CA Rashmi Gandhi
(Chartered Accountant)
(86204 Points)
Replied 08 May 2017
NARENDER GUGULOTHU
(7 Points)
Replied 08 May 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160292 Points)
Replied 08 May 2017
I got 40 laks cheque with account payee... is it problem or not |
How can it be problematic, when you have sold your property, by registered sale document! On the contrary, it is nice part that you have received cheque and not cash!! It doesn't matter whether you deposit in a current account or Savings account, but it should be your own account and final advise is get in touch with any tax expert who can advise you to save tax and file proper ITR and/or pay advance tax, if any liabilty arises.
For your clarification there is no restriction to deposit any amount in your normal savings account, but restricted to JAN DHAN SAV ACC.
CA Rashmi Gandhi
(Chartered Accountant)
(86204 Points)
Replied 08 May 2017
Nitesh
(accountant)
(123 Points)
Replied 08 May 2017
knrvarma
(Professional)
(59 Points)
Replied 09 May 2017
Long term or short term capital gain tax applicable