Savings and current account limit for one finical year
Kollipara Sundaraiah (B.com) (2982 Points)
29 April 2023Kollipara Sundaraiah (B.com) (2982 Points)
29 April 2023
NARENDRA
(ACCOUNTS MANAGER)
(1983 Points)
Replied 01 May 2023
For Tax Payers & for Cash Withdrawal Limit is 1 Cr. per bank or post office account .......... apart from co-op society .....for Co-op Society Cash withdrawal limit is 3 Cr.
But if any person didn't file their Income tax return for past 3 years, the Limit is reduced for deducting tds is up to 20 Lakhs.
For Deposit limit in Saving Account is 20 Lakhs while limit for Current Account is 50 Lakhs.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India