Hi,
I have around 5 lacs rupees in cash, I got this amount from my house owner as we are vacating the leased house.
But lease agreement is in my mother name and I am depositing into my account.
So will there be any questions from Bank at the time deposit. if yes how can I proceed.
Please reply as soon as possible.
3 Answers
Hi,
Suggest you not to cash deposit anything more than Rs 2 Lakh in a day.
Also, you may deposit some amount in your mother's account too if possible.
There may not be any questions from your Banker.
Kindly read :
https://www.relakhs.com/rs-2-lakh-cash-transaction-limit/
https://www.relakhs.com/how-income-tax-department-tracks-the-high-value-financial-transactions/
I have already deposited the money in bank and I didn't face any questions from them, so do i have any problem with that in coming future.
i have lease agreement in my mother name(with that lump sum amount) so in this case can i provide this as proof?
Please provide the clarification as I am bit confused and nervous as of now.
Just in case if i get any queries, how can i defend then?
Hi,
There will be no issues from banker side.
It is related to your taxation, so it is something to do with the IT dept only.
As the agreement is in your mother's name, ideally she has to receive the amount and deposited in he Bank Account (if any)..
Kindly go through above articles.
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