Dear Sir
can we face any issues from IT department if we deposit cash from one account to another saving account.
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Cash deposit one saving account to 2nd
Replies (2)
SIR, Specified High value of transaction has a limit fo cash deposit into Savings Account 10 Lakh or More For Example You withdraw 10 LAKH or More from SAVING ONE ACCOUNT and then deposit the same in other account 10 LAKH OR More shall be marked as SFT in your 26 AS.(first)
Secondly, You will receive notice that is not correct or not an absolute statement, the Income Tax Department will compare your ITR and then decide, whether this person has the capability to deposit or do his ITR justify such a deposit.
Sir, It's only upto 80 thousand
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