Cash deposit limit under income tax

Banks have to report cash deposits or withdrawals aggregating to Rs 50 lakh or more in a financial year in one or more Current Account/s of a person.

Banks/Post offices also have to report cash deposits aggregating Rs 10 lakh or more in a financial year in one or more accounts (other than Current Account / Time Deposit) of a person.

Banks/Post offices additionally have to report cash deposits aggregating Rs 10 lakh or more in a financial year in one or more Time Deposit accounts of a person .

I have stated the limits as per the reporting of the financial institutes to ITD,; otherwise there is no limit for deposits to any account.

For any single transaction limit is Rs. 50,000/-

Yes, the query can be raised.