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How much can we draw in cash from our bank account

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(Querist)
16 April 2017 How much can we draw in cash from our bank account ? In what cases penalty shall be levied by the income tax department ?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
16 April 2017 No limit for cash drawal from bank. Penalty will be levied u/s 269st for payment in excess of 2 Lacs to a person on a occasion or in connection with an event or for payment of an invoice.
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Studentsca

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Studentsca (Expert)
16 April 2017 Provisions of Section 269ST not applicable on bank withdrawls.
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CA Gopal Somani

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CA Gopal Somani (Expert)
17 April 2017 Bank withdrawal are not covered u/s 269ST

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