If a person want to pay3 lacs by cheque against new machinery purchased & he has3 lac as a cash balance so can he deposit3 lac in bank in 1 day only.... and wat is the day limit of cash should be deposit in bank a/c?
7 Replies
CA Sandeep Kumar
(Audit Assistant)
(804 Points)
Replied 18 April 2011
no limit for deposit of cash.. make sure you have an account for cash balance in the books of accounts,
Ashish Jain
(.Net Developer)
(641 Points)
Replied 18 April 2011
yes, but PAN card is compulsory for deposit amount above 50,000 in bank of condition saving a/c but current a/c it is not compulsory.
CA ADITYA ZANTYE
(BCOM CA CS PROFESSIONAL)
(325 Points)
Replied 18 April 2011
DUDE ACCORDIND TO ME WE CANNOT DEPOSIT AMOUNT IN EXCESS OF 10LAC AT A TIME SO SINCE YOUR AMOUNT IS LESS THAN 10LAC i.e3LAC.YOU CAN DEPOSIT IT IN A DAY.
Girish Shah
(Serive)
(38 Points)
Replied 23 November 2011
My Query is ... If Depositor has PAN number recorded in his own account.. still PAN is required while depositing Cash above 50000/- ?
Whos PAN number is required ? A/c holder's or Depositors?
Bank's Cash Credit Limit holders every day deposits Rs.50000/- or more in Cash almost everyday...
should they mention their own PAN number on the Deposit Slip?
a time deposit, exceeding fifty thousand rupees, with a bank,
a deposit, exceeding fifty thousand rupees, in any account with Post Office,
a contract of a value exceeding one lakh rupees for sale or purchase of securities,
opening a bank account or a demat account,
making an application for installation of a telephone connection (including a cellular telephone
connection),
payment in cash for purchase of bank drafts or pay orders or banker¶s cheques for an amount
aggregating fifty thousand rupees or more during any one day,
deposit in cash aggregating fifty thousand rupees or more with a bank during any one day,
vinod kumar
(accountant)
(25 Points)
Replied 31 July 2015
Limit of cash deposit in a bank in year
Vinod kumar
Manish
(M.Com)
(29 Points)
Replied 03 August 2015
Dear Mr. Girish Shah, required of PAN no is mandatory for deposit cash more than 50000/- in single counterfoil (Bank Recipt)
secoundly only account holder pan no is required for cash deposit.
JAGANATHAN R ACMA, SAP(Fi-Co)
(Manager Accounts and Finance)
(915 Points)
Replied 14 November 2016
some bank will collect the cash from office,
That time the PAN and all not required
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