Amount limit in bank

anil (Querist) 10 October 2013 This query is : Resolved
Hi,

If my account every month has a transaction of 30000 for last 15 years.

Now my question if i earn a commission of 12 lakhs and i deposit the money in account.

1 Will i be asked question for this transaction.

2 Being a real estate deal i have taking the money in cash and not in cheque.

Please advise me on legal ground.

Thanks

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Raj Kumar Makkad (Expert) 10 October 2013
You need to keep proper accounts of your dealings and income and accordingly pay the due income tax thereon.