Any i.t. return non filing person cash deposits transcations in bank sb and current limit above transcation i.t. department detailes asked(notice issued).
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Cash deposites in bank limit
Replies (9)
Quick Summary
Post the notice issued
In saving bank 10lakhs limit, current account 30 lakhs
Screen shot your notice
Yearly savings account - Reportable limit - 10 lakhs , 50 lakhs for current account
Where this limits are prescribed in which act
Goverment time to time by notification mandatory require the person to report this
currently in saving bank account limit is 25 lacs and in current account it is 50 lacs
currently in saving bank account limit is 25 lacs and in current account it is 50 lacs
Reply to notice and file ITR regularly
Every reporting person is obliged to report cash deposits of rs. 10 lakhs or more made in savings bank account and cash deposits or withdrawals of rs 50 lakhs or more in current accounts
Kindly check limit have been extended to 25 lacs for saving bank
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