Deposit of money in bank

Tejas Jasoriya (CPT clear) (284 Points)

09 November 2016

Can I as a student deposit my saved money in bank after ban since I have no proof of Income?

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4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178226 Points)
Replied 09 November 2016

Yes, upto "saved money"

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Vaishnavi Ganesh (Chartered Accountant) (861 Points)
Replied 09 November 2016

Any amount can be deposited into bank on producing proof of identity. (Pan, Aadhar card etc)

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Tejas Jasoriya (CPT clear) (284 Points)
Replied 09 November 2016

And what about source?what must I show?

Vaishnavi Ganesh (Chartered Accountant) (861 Points)
Replied 09 November 2016

If you have got as gifts - Gift OR other income OR some suitable field may be opted.

I don't think bank will ask for Proof of Income. It is not Bank's duty. Just quoting your PAN (and Copy of it) will do.

I hope, being a student you are not going to deposit in lakhs. (if its more than lakhs - you must be having Source for such Income.

Thanks.

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