Cash depositing more than 2 lakhs in one time

[SHAAN NISHA]

HI EVERYONE,

                                IF ANY CUSTOMER DEPOSIT IN MY BANK ACCOUNT MORE THAN 2 lAKH RUPEES IN CASH IN MY BANK ACCOUNT THAN WHAT WE SHOULD DO ? WE RETURN THE CASH TO CUSTOMER BY CHAQUE OR TO INCOME TAX DEPARTMENT OR WE NEED TO PAY PENALTY OR WE CAN PROVE IN ANY OTHER WAY?

[DR.MARIAPPAN GOVINDARAJAN]

Have an inquiry with the Bank and get the details of the depositor. Now this is one way for cheating. If the amounts cheating a complaint may be filed with police.

AI Summary

Cash deposit reporting: inquire with the bank for depositor details and consider a police complaint if fraud is suspected. Initiate an immediate inquiry with the bank to obtain depositor identity and transaction particulars, preserve documentary details, and, if the deposit appears part of a cheating scheme, consider lodging a formal police complaint while retaining records to support any subsequent administrative or criminal investigation.