Cash Deposit Limit

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402 Points Posted on 20 October 2020
what cash can be deposited in SB account in an year if personal income source is cash what is Day deposit limit and part based deposit limit of a year at safer side. (Income is 3 to 4 years) and cash in hand is 3Lakh.
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On 20 October 2020 at 16:18 Report
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Quick Summary
This discussion clarifies the limits for depositing cash into a Savings Bank (SB) account, especially when the source of income is cash. It addresses daily and yearly deposit limits, advising on safe practices and record-keeping. The thread also highlights that depositing around ₹10 lakh in a financial year will be reported to the ITD by the bank.

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Accountant
3662 Points Posted on 20 October 2020
No cash limit

Please maintain proper records of cash receipts

If someone deposit Rs. 10 Lac in Savings account in a Financial year, Bank report to ITD
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On 20 October 2020 at 23:45
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Tax consultant
5895 Points Posted on 21 October 2020
What you doing
source of income
business or other
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On 21 October 2020 at 00:30
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12244 Points Posted on 21 October 2020
Whole year - 1000000
per day - 200000
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On 21 October 2020 at 04:03
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402 Points Posted on 21 October 2020
Salary and part time work from home income.
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On 21 October 2020 at 20:25

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