How much money can I transfer in Bank acc, Until LHDN gets notified? 
Sep 18 2018, 03:25 PM
QUOTE(Avangelice @ Sep 18 2018, 12:00 PM)
Hey guys, just want to enquire a little dilemma I am facing.
I normally conduct house calls and majority of my patients have been paying me in cash so over time I have collected a sum of money in cash form which I cannot keep in my house as there have been a spite of breakins around the neighborhood.
So I have been banking all the money in batches of 5k per transaction.
Just wondering how much is too much until LHDN gets notified?
PS I am not running from taxes. I do my annual tax returns as honest as I can but I would not wish to be audited if possible.
if i remember correctly, BNM gets notified of single rm50k movements and above. the bank can also raise alerts to BNM if there is suspicious activity, i.e. rm40k per week over a few weeks.I normally conduct house calls and majority of my patients have been paying me in cash so over time I have collected a sum of money in cash form which I cannot keep in my house as there have been a spite of breakins around the neighborhood.
So I have been banking all the money in batches of 5k per transaction.
Just wondering how much is too much until LHDN gets notified?
PS I am not running from taxes. I do my annual tax returns as honest as I can but I would not wish to be audited if possible.
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