assess transactions limit of sb and current account in bank.if assess pay gst and income tax and other taxes clients taxes paid through on assess bank account
question:
Assess cash deposit transactions limit of sb and current in bank account one finicial year.
There is no absolute limit on cash deposits, but depositing ₹10 lakh+ (savings) or ₹50 lakh+ (current) annually triggers mandatory reporting to tax authorities. You must provide your PAN for any cash deposit of ₹50,000+. Always ensure you can document the source of your funds to avoid tax complications.
CCI
Pro
CAclubindia
