24 December 2014
If in a day total debit or total credit transactions exceeds Rs.10,00,000 same will be reported by bank in their AIR(Annual information return) . . Details of those entries also reflected in Assesse Form 26AS
25 December 2014
deptt. can send the notice on the basis of the information received from any deptt. and if rs. 10 lacs deposited in a year then you received the notice, you deposit the amount rs. 49000/-in day.
25 December 2014
Thanks Rupesh ji, Please tell me, if assessee having more than 1 saving bank account, and he deposit money in 4 banks,,,,, what will happen in this case?