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Saving account related

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1 Points Joined June 2021
How many transitions can be made in savings account in 1 financial year?by cash or check or atm card?
And how many transactions can be done through online net banking or UPI?
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On 08 June 2021 at 06:36 Report
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2742 Points Joined October 2018
I think There is no such limit , but if during the year transaction crossed 10 lakh then Bank will Report in SFT , to Income Tax Department,
then department may ask for information of such transaction.
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On 08 June 2021 at 08:30
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Chartered Accountant
24588 Points Joined November 2019
There is no such limit but as per SFT transactions deposit above 10 lakhs rupees have to be reported by Bank
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On 08 June 2021 at 09:49
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tax consultant
3306 Points Joined October 2018
Banks have prescribed limits in their rules. you have to ask the bank for a copy of such rules.
few days back i just read somewhere in the account opening form that one can deposit cash in account only thrice in a month. thereafter charges will apply.
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On 08 June 2021 at 14:10
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Chartered Accountant
24588 Points Joined November 2019
Please share the copy of such notification
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On 08 June 2021 at 14:20
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tax consultant
3306 Points Joined October 2018
You may ask the bank to give a copy
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On 08 June 2021 at 15:04
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2742 Points Joined October 2018
There is no limit for transactions, there may be a charges if number of transactions or amounts exceeds, but there is no limit that you can't do transactions.
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On 08 June 2021 at 18:22
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tax consultant
3306 Points Joined October 2018
Then we may call it free transactions limit, beyond which charges will apply
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On 08 June 2021 at 19:05
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Chartered Accountant
24588 Points Joined November 2019
No there is no such limit
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On 09 June 2021 at 11:15
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tax consultant
3306 Points Joined October 2018
It depends upon the bank
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On 09 June 2021 at 11:38
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Chartered Accountant
24588 Points Joined November 2019
May be
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On 09 June 2021 at 11:55

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