cash deposit in od account exceed 10 lakhs. during FY.
whether bank submit SFT to income tax department.
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Cash deposits in od account
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10lakh limit is for saving bank account
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.
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
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