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Cash Limit for Deposit and Withdrawal

30 September 2021

sir , please give Cash Limit withdrawal and deposit cash in one day and one Financial year as per Latest Update and give sec 285AB.

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Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (3303 Points)
Replied 30 September 2021

ndividuals who deposit cash above Rs. 2.5 lakh and senior citizens who deposit cash above Rs. 5 lakh may be scrutinised. Any amount within the specified limit will be excluded from scrutiny considering that the money is from household savings, cash withdrawals, earlier income, and so on.

Cash withdrawal limit for self using cheque is capped at ₹1 lakh while cash withdrawal limit by third party (only through cheque) is capped at ₹50,000. ... At the non-home branch – no charges will be levied for cash transactions up to ₹25,000 per day. For third party transactions, the limit has been set at ₹25,000 per day.

D K Gupta (Service) (95 Points)
Replied 22 October 2021

You may deposit it in your bank account by subdividing it in 49K to 1L daily but not exceeding 10 lakh in a month total to avoid its reporting to FIU, & IT.