Regarding cash transaction limit per year
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 November 2015
Sir, if anyone transacted 700000/- ( deposit and withdrawal ) in savings account from 1st april. Now how to avoid Income tax and how much the limit per year.
20 November 2015
There no limit as such, but banks will give ur information to income tax departments if you have deposited more than 10 lac in cash in saving bank accounts.
For any query feel free to contact me @ +91 94283 19758
CA Ankur Mehta
Jai Jinendra
For any query feel free to contact me @ +91 94283 19758
CA Ankur Mehta
Jai Jinendra
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 November 2015
dear Sir, is it 10 lacs in a financial year?
20 November 2015
Yes its 10 lacs per year.
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