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Cash deposite to bank over rs. 10,00,000/-

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09 November 2016 Mr. B has 2 bank account with first account holder one of State bank and another one of ICICI bank. He has deposited in SBI 7,00,000/- and deposited 6,00,000/- in ICICI bank. Now is it treated cash deposited over 10,00,000/- whether it is difference bank?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
09 November 2016 As two banks are involved it will not be treated as cash deposited over 10 lacs.
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Amol S Joglekar

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Amol S Joglekar (Expert)
09 November 2016 the limit is per bank basis.
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