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Cash deposit more than 50 lakhs in saving bank account

Others 428 views 1 replies

Hi Everyone,

                     if i fill my return u/s 44ae and cash deposits in my saving bank account during the year is more than 50 lakhs than what kind of justification/ we need to submit here. if get notice for submitting of justication for depositing cash more than 50 lakh in saving bank account???.  And what is the limit of deposting cash in current account and saving bank account in a FY upto which no information sent to IT Department By Bank? Or we need to submit justification or prove source of income?

Thanks In Advance

Replies (1)
prove the source for cash deposits.. that's enough


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