Query Regarding 10 lakh Cheque and Income Tax Implications

[Rahul Raj]

Will there be any issues with regard to Income Tax or any other concerns if we provide a cheque of 5 lakh or 10 lakh to the bank for opening an ICICI Wealth Management account?

 

[luciferlucifer is verified member.]

Will there be any issues with regard to Income Tax or any other concerns if we provide a cheque of 5 lakh or 10 lakh to the bank for opening an ICICI Wealth Management account?

for own account transfers there is no tax implications as far as i know. But i am no CA or tax expert

 

[Deleted member 11974]

no

 

[Saipsy]

As long as you declare and pay IT correctly, it should not bother you

 

[AritraSaha]

Will there be any issues with regard to Income Tax or any other concerns if we provide a cheque of 5 lakh or 10 lakh to the bank for opening an ICICI Wealth Management account?

There are ppl on the community who have opened icici wm account with 1-3L. Plz search on the community.