Deposit Cash in saving account

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729 Points Posted on 15 April 2022
Dear Sir, Cash deposit in saving account RS.144000/- 12000 in each Month. Annual income is rs.175000
Can we face any issues from IT department please suggest.
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On 15 April 2022 at 16:05 Report
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This discussion addresses concerns about depositing a significant amount of cash into a savings account. The user deposited Rs. 144,000 annually (Rs. 12,000 monthly) with an annual income of Rs. 175,000 and sought advice on potential issues with the IT department. The consensus was that as long as the total income remains below the taxable threshold (Rs. 2.5 lakh), there should be no problems.

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Profession Business
28246 Points Posted on 15 April 2022
No issues. stay cool.
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On 15 April 2022 at 17:33
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Student
87 Points Posted on 16 April 2022
Nope, but if you have any other income which make your total income more than 2.5 lakh then only you need to file ITR
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On 16 April 2022 at 00:50
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Profession Business
28246 Points Posted on 16 April 2022
The querist has not mentioned that.
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On 16 April 2022 at 09:33
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729 Points Posted on 16 April 2022
Thank you very much to all of you
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On 16 April 2022 at 14:56

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