I have one question regarding the Cash withdrwal information from our savings account to be sent by our Banker to I T deptt . In recent past due to some medical emergency i have to withdraw sizeable amount from my savings account with nationalised bank. The bank people told me that this details, they have to submit to I T Dept. as per their norms. I pointed out that time that as per my knowledge bank has to submit details of Cash deposit of Rs.10 lakhs or more in a account by account holder during the year. But they told me that now we also have to furnish the details of CASH WITHDRWALS, if it exceeds Rs.10 Lakhs during the year.
Experts, Please clarify this question with any circular or notifications of I T Department.
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