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Cash deposit SB, RD,PPF, NSC

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Surinder

Assistant

362 Points Posted on 17 February 2022

Dear Sir,

Please suggest can I face any issue from IT department.Annual income Rs.96000/_ Salary Tution income 112500/_Interest fromFD and SB account 22200/- Total income 223700/_deposit cash in RD account 4 installments 6500×4= 26000/_ Cash deposit in PPF account Rs.10000/_ Cash deposit in Post office Saving account account 50000/- to convert NSC. cash deposit to Saving account 59000/- Please suggest.

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Quick Summary

This discussion addresses concerns about potential IT department issues arising from cash deposits into various savings and investment accounts, including Recurring Deposits (RD), Public Provident Fund (PPF), National Savings Certificates (NSC), and Post Office Savings Accounts. The user has provided their annual income details and the amounts being deposited in cash across these accounts, seeking guidance on whether these transactions could attract scrutiny from tax authorities.