Cash deposit

What is the limit of such deposit?

Different Types of overdraft accounts have diverse eligibility criteria for the facility and some of those norms are mentioned here:

Overdraft against Salary: Salary accounts opened by the businesses for their employees are eligible for this facility. The minimum requirement for availing overdraft facility in a salary account is to have regular monthly salary credit by the company and the company is in the approval list of the bank.

Features:

• Banks offer overdraft up to 3 times of current salary of the customer
• The facility is offered at minimal documentation and easy-repay feature
• Customers are required to pay interest only on the utilized amount with the freedom to repay the amount anytime without pre-closure charges
• The minimum salary limit varies from Rs. 15,000 to Rs. 25,000 according to specific banks
• This type of overdraft does not require any security or collateral
• Some banks even offer overdraft amount of up to Rs. 4 lakh

Dear Debora M

May I know if your answer relates to my query??

If Yes, seems irrelevant reply.

In Budget 2017-18, a ban on cash transaction of more than Rs 3 lakh has been proposed. The same has been mentioned in the Finance Bill 2017. But, the Govt of India has made amendment in Finance bill and has reduced the Cash transaction limit to Rs 2 Lakh. This amendment has been passed through Finance Act, 2017 and notified on 31-March-2017. Complete details on Rs 2 Lakh Cash Transaction limit have been provided in a new section referred to as ‘Section 269ST‘. As per Section 269ST, any person who enters into a transaction of Rs 2 Lakh or above in cash, will be liable to a penalty of an amount equivalent to the amount of transaction.

In Budget 2017-18, a ban on cash transaction of more than Rs 3 lakh has been proposed. The same has been mentioned in the Finance Bill 2017. But, the Govt of India has made amendment in Finance bill and has reduced the Cash transaction limit to Rs 2 Lakh. This amendment has been passed through Finance Act, 2017 and notified on 31-March-2017. Complete details on Rs 2 Lakh Cash Transaction limit have been provided in a new section referred to as ‘Section 269ST‘. As per Section 269ST, any person who enters into a transaction of Rs 2 Lakh or above in cash, will be liable to a penalty of an amount equivalent to the amount of transaction.

Originally posted by : parasuram
	Dear Sir. What is the limit to receive in cash and limit for cash payment to vendors

Keep it under 10,000 for peace of mind.

1. Limit as per sec 269SS is Rs. 20,000 (in cash) in aggregate per person in a day as loan or deposit or any other sum. 
2. Limit as per sec 269ST is Rs. 2,00,000 for receiving any amount in cash in aggregate per person in a day. However, this rule will not be applicable for banks and governments.  
3. Any type of business payments per day to a single person should not exceed Rs. 10,000 in cash. So vendor payment should not exceed Rs. 10,000 in cash. This is as per sec 40A(3). Payment in excess of Rs. 10,000 will attract disallowance while computing PGBP. 
Please correct me if the above solution has an alternative view. 

Dear Suresh Sir,

Thank you so much for the information shared.