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Deposit of 500 notes

Amol Gurav (student) (34 Points)

13 November 2016

I am a ca Student and my cousin is asking me to deposit rs.20000 in my account for exchange his notes is it right way ?

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4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (171225 Points)
Replied 13 November 2016

“The only tyrant I accept in this world is the 'still small voice' within me. And even though I have to face the prospect of being a minority of one, I humbly believe I have the courage to be in such a hopeless minority.”
― Mahatma Gandhi

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CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 13 November 2016

Ya u can deposit it is not such a big amount but firstly conform that what is the purpose of ur cousin for depositing money in ur a/c

Mohit Verma (-) (59 Points)
Replied 13 November 2016

Is your account is saving a/c? If it is then there is no problem. But if it is your business account than it is not good idea because you have to show the reason for this deposit if you are maintaining records of your business.

So for all personal reasons/affairs/matters use your saving account.