As per rule 114E of income tax rules banks has to report in form 61A to income tax dept regarding certain transactions .one of such transaction is cash deposits aggregating 10 lakhs or more made in any accounts in a financial year .Just check rule 114 E of income tax rules for more clarity with respect to transactions which are reported by banks to IT dept .This rule 114E makes the life miserable if IT dept finds any such transaction
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thank you all for your suggestions
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