Cash deposits and withdrawals limit for sb and current bank account
Kollipara Sundaraiah (B.com) (2963 Points)
05 November 2021Kollipara Sundaraiah (B.com) (2963 Points)
05 November 2021
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(171180 Points)
Replied 05 November 2021
According to section 194N of the Act, 2% TDS has to be deducted if a sum or aggregate of sum withdrawn in cash by a person in a particular FY exceeds : 20 lakh (if no ITR has been filed for all the three previous AYs).
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 07 November 2021
MURALIDOSS
(INCOME TAX PRACTITIONER)
(1317 Points)
Replied 15 July 2023
IN AIS SHOWS 11 LAKHS CASH DEPOSITS AND CASH WITHDRAWALS 800000/- WHAT NEED TO DECLARE IN THIS REGARD TO HIS B/S? , HE GOT GST AS PER TO.4200000/- AS SALES. SIR.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)