CASH DEPOSITS LIMIT IN BANK AS PER INCOME TAX

If you've deposited over £10 lakhs in cash or made significant credit card transactions, you might receive 'High Value Transactions' alerts from the IT Department. It's crucial to file your Income Tax Return (ITR) immediately. Ensure the income details in your ITR can justify these transactions; if not, revise your return promptly. Banks are obligated to report cash deposits of £10 lakhs or more.