Regarding cash deposit after 500 rupees banned issue

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 November 2016 Sir my firm do have 30 lac cash in hand as also reported in my audited financial statement .....can i deposit the same in my bank account ?? will there be any query by it department why havent u deposited the same earlier ???

Sandeep Dharar

Sandeep Dharar (Expert)
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10 November 2016 If there will b any query as such, then u have to give explanation for that, that Y u kept such a huge cash in hand. If u can explain then its ok, otherwise there may b problem.

Querist : Anonymous

Querist : Anonymous (Querist)

10 November 2016 sir what if i do have sufficient cash in hand and i also have cc account and from last one year .. i havent utilized my cc much in last one year ... now i want to deposit the same as the 500 rupees notes are banned the same has been shown in books of account

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