19 March 2014
if i depositing cash in bank less then 50000 in regular basis so is their is need for pan card or any deduction made by bank in behalf of TDS.
20 March 2014
1. PAN is NOT required if SINGLE deposit is less than Rs. 50,000
2. TDS is NOT deducted in respect of interest on saving bank account.
3. However if the cash deposit in a SINGLE account EXCEEDS Rs. 10 lakhs during the year, the details of the account are reported by the bank to the Income Tax Department through AIR.
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