Dhanunjay Harnadh (CA - Final) (77 Points)
25 August 2010
Suppose If iam depositing Rs.10,00,000 in my SB account and iam quoting PAN Number also. Whether Banker or any employee in Bank can raise question on my Source of income.
Rangarajan N
(Senior Manager)
(38 Points)
Replied 25 August 2010
Your Query:
Suppose If iam depositing Rs.10,00,000 in my SB account and iam quoting PAN Number also. Whether Banker or any employee in Bank can raise question on my Source of income.
Reply
This is very much possible under KYC-AML (Know Your Customer-Anti Money Laundering) guidelines issued by RBI to Banks operating in India.As per the present scheme of things CDW-Rs10 lacs(Cash Deposits Withdrawals) into any account gets upped to RBI/IT/CBI FIU directly from the Banks server every fortnight.Based on that you may be questioned.Mere Quoting of PAN No does not assure such remitters the protective shield.
Regards
N.Rangarajan
Senior Manager of a Nationalised Bank in Tiruchirapalli
CAclubindia
