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Cash deposits in od account

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669 Points Posted on 17 April 2021
cash deposit in od account exceed 10 lakhs. during FY.
whether bank submit SFT to income tax department.
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On 17 April 2021 at 14:59 Report
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na
175 Points Posted on 17 April 2021
10lakh limit is for saving bank account
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On 17 April 2021 at 15:29
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Chartered Accountant
24588 Points Posted on 17 April 2021
Cash payment exceeding Rs 10 lakh for purchasing any prepaid RBI instruments like RBI bonds, etc. Deposits or withdrawals amounting to Rs 50 lakh or more from any number of current accounts of a person with the bank.
129 Reply
On 17 April 2021 at 17:18
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2742 Points Posted on 18 April 2021
If deposit made by you is genuine then you need not to worry . SFT REPORTING IN CURRENT ACCOUNT IS REQUIRED ON 50 LAKH OR MORE
9 Reply
On 18 April 2021 at 14:05


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