Cash deposit limit in bank account in a year as per income tax
Cash deposit limit in bank account in a year as per income tax
I this article we have discussed Cash deposit limit in bank account in a year as per income tax.The Cash Deposit limit as per income tax in a year in Savings Account for an Individual is Rs 10 lakh. The Income Tax Department may send income tax notice if a savings account holder deposits more than Rs 10 lakh in one’s savings account. Similarly, for Current Account Holders, the limit is Rs 50 lakh and on violation of this limit may also liable for Income Tax Notice.
Cash deposit limit in bank account in a year as per income tax
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