Cash deposits and withdrawals limit for sb and current bank account

This discussion clarifies cash deposit and withdrawal limits for individuals with savings and current bank accounts, especially for those registered for GST but not filing income tax returns. It highlights Section 194N of the Income Tax Act, which mandates a 2% TDS deduction on cash withdrawals exceeding ₹20 lakh (if no ITR filed for 3 preceding AYs) or ₹1 crore in a financial year. The query also touches upon how to declare cash transactions shown in AIS, considering GST sales figures and potential balance sheet implications.