Regarding savings account deposit in a financial year
This query is : Resolved
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Amitabha Das
(Querist)
09 August 2024
Sir if any professional take his/her fees aprx 4Lacs through phonepe or/googlepay etc(i.e online mode) and also Rs 7Lacs by cash and then the cash is deposited in savings account in a financial year,then total deposit is 4L+7L=11Lacs in a financial year.Will it be reported to ITD as SFT as more than 10Lacs in a year?Please clarify sir🙏🙏🙏.Thanks in advance
Dhirajlal Rambhia
(Expert)
09 August 2024
No. Cash deposit is only considered, which in this case is 7 lakhs.
Dhirajlal Rambhia
(Expert)
09 September 2024
Good Luck.
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