Tax with SB Account

"can I deposit 40laks cheque in my saving bank account... with out any tax?"

Why not, tax liability arises if the amount is taxable receipt!!

You have to clarify the source of income before deposit it in bank. If it is taxable receipt then u have to pay tax on it.

property sale amount

how much we can deposit in our saving amount

Then definately you have show it in your return but u can go for tax planning to reduce tax. Tax decided on your purchase year & amt.

You cant receive any sum higher than 200000/- in cash for a single transaction or from single person in a day, it results in penalty equal to such sum.
You can deposit through a/c payee cheque or demand draft or any banking channel through bank account.

Bettrr option is that u consult wid some nearby CA to handle this as each & every aspect can't be discussed here.

I got 40 laks cheque with account payee... is it problem or not

	I got 40 laks cheque with account payee... is it problem or not

How can it be problematic, when you have sold your property, by registered sale document! On the contrary, it is nice part that you have received cheque and not cash!! It doesn't matter whether you deposit in a current account or Savings account, but it should be your own account and final advise is get in touch with any tax expert who can advise you to save tax and file proper ITR and/or pay advance tax, if any liabilty arises.

For your clarification there is no restriction to deposit any amount in your normal savings account, but restricted to JAN DHAN SAV ACC.

That's good that u take all payment by a/c payee cheque. Its absolutely fine. Now plan your tax with your CA or tax consultant.

long term or short term capital gain tax applicable on this. contact to c.a for future action.

Long term or short term capital gain tax applicable