0
Yes, providing a Permanent Account Number (PAN) is compulsory for cash withdrawals exceeding ₹50,000 in India. This requirement is part of the government's efforts to curb black money and enhance tax compliance. Banks and financial institutions are mandated to collect PAN details for such transactions to ensure transparency and proper reporting to tax authorities.
What else can I help you with?
What do you call left over cash?
left over cash
What is the difference between face amount and cash value?
The face value is what your beneficiaries will collect. The cash value is the excess of your premium payments over the cost of the insurance. Click here for more about life insurance cash value.
Formula for calculating cash debosit ratio?
cash reserve ratio
What is the value of a 1984 BMW 533I?
$1400.00 cash $1400.00 cash
What goes in a cashbook?
A cashbook is a financial record that tracks all cash transactions, including cash receipts and cash payments. It typically includes columns for the date, description of the transaction, cash inflows, cash outflows, and the running balance. Cashbooks can serve as both a journal and a ledger, providing a clear overview of cash flow for a business. They are essential for maintaining accurate financial records and ensuring proper cash management.
Do the PAN required for withdrawal of cash Rs.50000 or above from Bank?
yes
Which accounts are involved in the following enteries Dixon opened a bank account in the name of the business by depositing 50000 cash which he had saved over a number for years?
[Debit] Bank Account 50000 [Credit]Cash Account 50000 Bank account as well as cash accounts are involved in this transaction.
What is journal entry for started business with cash 50000?
debit cash 50000credit capital 50000
What is the maximum amt withdrawal limit from an ATM?
You can usually withdraw any amount up to the balance in your account. You can do this by just visiting your bank branch and submitting a withdrawal request. But, if you are using an ATM, there are daily withdrawal and cash dispensing limits and hence the amount you can get might be limited to your bank balance or the daily withdrawal limit. Usually this withdrawal limit is Rs. 25000 or Rs. 50000 depending on the bank and your account type.
What is cash withdrawal?
withdraw cash is when you are taking out money dah
What is the maximum amount of cash in an ATM?
50000
When is cash available for withdrawal with TD Ameritrade?
Cash is typically available for withdrawal with TD Ameritrade within one to three business days after a trade is settled.
What is a journal entry for opened a bank account and deposit 50000?
Debit bank account 50000Credit cash 50000
Owners withdrawal may be classified as?
uses of cash
What does FL Tlr cash withdrawal from Chk mean?
"FL Tlr cash withdrawal from Chk" typically refers to a transaction on a bank statement where funds have been withdrawn in cash from a checking account (Chk). The "FL" might indicate a specific location, branch, or type of transaction, while "Tlr" could refer to a teller or a specific terminal used for the withdrawal. This entry generally signifies that cash was taken out over the counter or through an ATM linked to the checking account.
You owe 50000 can you surrender cash value on your life ins?
You owe 50000 you can surrender the cash value of your life insurance. This may result in federal and state income taxes where applicable.
On the Natwest bank statement what does the abbreviation CL stand for?
Cash line (cash machine withdrawal)
