Whether there will be any problem if my father deposit Cash in his account and later on transfer the same to his sons account i.e to me and I use the same for prepayment of home loan because his earnings are major in cash?
mukund (student) (22 Points)
15 August 2018Whether there will be any problem if my father deposit Cash in his account and later on transfer the same to his sons account i.e to me and I use the same for prepayment of home loan because his earnings are major in cash?
Nikhil Kaushik
(Fellow CA)
(85709 Points)
Replied 15 August 2018
please note that cash deposit in excess of Rs 2 lakhs will attract 269SS 269T violations.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India