Turnover Limit for Individual Saving Bank Account

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20 Points Posted on 25 January 2020
What is the highest turnover limit for saving acount in a financial year what liabilities are for this type of turnover ?
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On 25 January 2020 at 19:20 Report
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This discussion explores the turnover limits for individual savings bank accounts. While there isn't a strict monetary turnover limit, banks may impose restrictions on the number of transactions allowed per year. Exceeding these transaction limits could result in service charges or the requirement to open a current account. High turnover may also have tax implications.

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Studwnt
20 Points Posted on 25 January 2020
The Amount you can imagine will be the highest turnover. Liability will be to pay tax😜
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On 25 January 2020 at 19:50
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20 Points Posted on 25 January 2020
Yes but I mean, is any restriction regarding turnover of saving acount ?
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On 25 January 2020 at 20:49
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CA
20 Points Posted on 25 January 2020
Anything above Rs. 10,00,000
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On 25 January 2020 at 23:39
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20 Points Posted on 26 January 2020
Not turnover but SB Account has limit for number of entries permissible in a year . Beyond that either bank may take service charge it even ask you to open current account.
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On 26 January 2020 at 04:41

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