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Cash withdrawal limit
Hello, as we are aware that there is a threshold limit of cash deposit of 10 lacs in bank before report to income tax is sent. now my query is there any limit on cash withdrawal as well. can i withdraw 10 lac cash in a year without any income tax issue
Replies (4)
as long as you have the source no issues
bank will ask pan number.....
For withdrawal there is no reporting by bank.
are Bhai jab deposit Kiya that to already income tax ke radar pe aa Gaya that so no need to worry
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