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cash deposit

Naresh Khanduri (301 Points)

27 December 2018

how much cash can be deposited in to bank account in a day

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Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 27 December 2018

There is no limit on per day cash deposit in bank.

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Mehul Bhanushali (CA in Practice) (174 Points)
Replied 27 December 2018

Rightly said by Ruchikaji but to avoid assessment cases one shall not deposit more than RS.10 Lakhs in savings account and More than RS.45 lakhs in current account (IN A YEAR). If amount deposited in the respective accounts is more than aforementioned amounts then the banks need to disclose the same to IT Department by filing respective forms which can be seen in AIR Reports. So it is advisable to deposit cash below the aforementioned amounts.

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