Regarding cash deposit in saving account above 10 lakhs

Tax queries 2768 views 2 replies
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Prop
26 Points Joined June 2009

Hello seniors,

I want to know regarding 10lakh thing, i am doing an online business like ebay and we usually have transactions more then 10lakh in a year, is this 10lakh thing only for cash deposits or including cheque deposits or online transfers?

 

Thanks & Regards,

Nik.

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On 11 June 2009 at 00:48 Report
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Job
38 Points Joined July 2008

IT IS ONLY FOR CASH DEPOSITS OF ABOVE RS. 10 LACS DURING THE YEAR IN A SINGLE SAVING A/C.

CHQ. DEPOSIT & ONLINE TRANSFERS ARE NOT COVERED FOR CALCULATION OF ABOVE 10 LACS. 

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On 29 June 2009 at 12:06
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Yupp Suman is correct.

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On 29 June 2009 at 13:23


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