Income tax for depositing other's cheque in my SB account

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Income tax for depositing other's cheque in my SB account

I deposited my brother’s Bangalore cheque in my SB account in Chennai branch for encashing and withdrew cash immediately and handed over to him. Will this transaction attract income tax?

Profile photo of Vijayaraghavan S T Asked By: Anonymous 1 replies 0 helpful answers Last Updated: 7 months, 3 weeks ago
  • Profile photo of Vijayaraghavan S TAnonymous

    I deposited my brother’s Bangalore cheque in my SB account in Chennai branch for encashing and withdrew cash immediately and handed over to him. Will this transaction attract income tax?

  • As per the new rule no one can pay more than 10000 for any expense in cash. You have been given to your brother and how much is the amount you have paid in cash.

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