Cash limit
JAVED SHAIKH (ACCOUNTANT) (46 Points)
25 April 2017
what is cash deposit limit in current & saving account of individual,partnership & company accounts.
2 Replies
Anil Talukder
(86 Points)
Replied 25 April 2017
For income tax purpose you have no limit on cash deposit. If you able to prove the source you may not be required to pay tax if it does not represent income.
From banking point of view you may have to pay huge charges irrespective of being from disclosed sources.
That's the difference. You have to shell out either towards taxes or charges
From banking point of view you may have to pay huge charges irrespective of being from disclosed sources.
That's the difference. You have to shell out either towards taxes or charges
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