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KI might sound completely foolish, but do hear me out. I haven’t been to banks frequently, and I wasn’t earning enough to pay taxes. Now, since my father passed away, and my family is in the process of recovering the money he lent to others, we will primarily receive the funds in cash. The actual question is, how can we deposit it into our account without triggering the IT department? Since we have no idea how my father loaned the money, how can we prove it as ours, given that there’s no proof of income now that he’s no longer with us?
There are a couple of payments due soon.
a. An installment for an apartment that has been under construction since 2018 (yes, that long!).
b. A loan repayment due by March 2026. (We are paying interest on it monthly using rental income.)Additionally, there’s still money in circulation that my father lent to others, which we plan to use to pay for the above two payments.
NOW, I read that cash payments and deposits can trigger the IT department, so I’m really confused about how to use the cash we receive to pay back A and B without getting unnecessary notice. How can we plan our payments and deposits effectively given our situation?
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