Dear members,
Currently I am in working in a public sector and I have a query and want help of u.
Can I deposit cash given by my parent into my account(not salary account)somebody has told that u can deposit but at the time of need u have explain the source of deposit.
In this case what is the source of deposit i can explain when I am depositing cash given by my parent.
Need urs help
Thanking you

From India, Patna

Insolvency n GST Professional
What is the source of income?
The account belongs to you and money belonging to others should not be deposited.
You need to be clear in your mind that deposits of big amounts are monitored and as govt servant there is code of conduct for you.
Why cant you parents keep money in their account?
Are they gifting you cash?
If so read the rules pertaining to receipt of gifts and accept money as per that.
Think carefully and then decide.

From India, Pune
Sir as per gift rule if cash is given by parent or brother/sister then it is exempted.But as far as source of income is considered how could we exaplain the source if cash is deposited by myself in cash.
From India, Patna
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