cash deposit and withdrawl on same date in limit account

[satbir singhwahi]

IN AGRICULTURE BANK LIMIT , BANK HAS SHOWN DEPOSIT AND WITHDRAWAL OF RS.20 LAKHS ON 11.06.2015. THIS IS DONE BY BANK TO REGULARIZE THE KCC LIMIT. NOW ASSESSING OFFICER IS ASKING TO JUSTIFY THIS DEPOSIT .PLS GUIDE.

[DR.MARIAPPAN GOVINDARAJAN]

The reasons are to be explained by bank. This query is without any substance.

AI Summary

Bank Transaction Query: Rs. 20 Lakh Deposit and Withdrawal on Same Day for KCC Limit Regularization Lacks Justification In a discussion forum, an individual raised a query regarding a bank's action of showing a deposit and withdrawal of Rs. 20 lakhs on the same date in an agriculture bank limit account, specifically on June 11, 2015. This was done to regularize the KCC limit. The assessing officer is now requesting justification for this transaction. The reply suggests that the bank should provide the explanation, indicating that the query lacks substance.