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Savings and current account limit for one finical year

kollipara sundaraiah (B.com) (2931 Points)

29 April 2023

any it returns filed person or any it returns non filed person cash deposit and withdrawals transaction limit for one finical year in bank sb and current account.

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NARENDRA (ACCOUNTS MANAGER) (1647 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.