SIR IF I DEPOSITE RS48000 ON 12/11/2016 AND AGAIN ON 20/11/2016 THUS MKING A TOTAL DEPOSITE OF RS96000; IN MY SB A/C DOSE IT INVITE A SCRUTINY NOTICE FROM INCOME TAX DEPARTMENT.
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Depositing Rs 48000 in bank two times
Replies (7)
there will be no scrutiny as it is under limit .. you can deposit upto 2.50 lacs. Above on this ..bank will file AIR.. and the depositor will get IT notice.
No AIR reporting, for cash deposited upto 2.50 L upto 30.12.2016, so based on that your cash will not be reported to department for at least CASH DEPOSITED
Hi,
It would be better if you also keep in mind the amount you have deposited till date from beginning of year i.e april 2016
mr. roy it recommended that
do not deposit 50000 or more in a day
and not more that 2.5 lakh upto 31st dec in aggregate.
and not more that 2.5 lakh upto 31st dec in aggregate.
If I have Avaialble Cash Rs.500000/- And Deposit With Three Friends Accouts name of Mohan, Anil, Ashish Rs.150000/-, Rs.150000/-, Rs.200000/- Respectivily, then Withdrawa Any problem ????
at present it doesn't look like any problem will arise. but in near future there should be some change in law for this...
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