watch_later 27/05/23


It person example rs:2000/- notes cash deposit in bank sb account rs:10 lacs value amount.


Assessee sec 68 and sec 115 bbe both provision applicable in it act.

1 Response | Latest response: 30/05/23 | Sort by Likes(thumb_up) Recent | Income-Tax Reply
watch_later 30/05/23

Depositing Rs. 2000 notes is different from tax under section 69 and 115bbe.

Section 69 and 115bbe can apply to normal deposits too. Deposit of Rs. 2000 notes is to be considered as any other normal deposits. However few cases may be selected for scrutiny with reason why such huge cash was kept and what was source.

You can deposit any amount of cash as long as it was taxed and you can prove source of it.


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