Dear All, In Annual Information Return in ITR forms it has been mentioned "Cash deposits aggregating to ten lakh rupees or more in a year in any savings account by you maintained in a banking company to which the Banking Regulation Act, 1949 (10 of 1949), applied (including any bank or banking institution referred to in section 51 of that Act)". Does it involve money transfer to an Indian account by an NRI from abroad if value more than 10 lakhs to an account in a single financial year. What does the term Cash deposit mean. Is it only by taking cash physically to the bank and depositing in a savings account or does it involve transfers and transactions also.
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