Cash deposit in a day?
shivam bhatia (231 Points)
02 January 2023
How much can a person deposit cash in his savings account in a day?
shivam bhatia (231 Points)
02 January 2023
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170793 Points)
Replied 02 January 2023
As such depends upon each bank, and type of savings account/s..
But bank has to report to ITD for any cash deposited by cash for amount of Rs. 50K or more per day.
shivam bhatia
(231 Points)
Replied 02 January 2023
sabyasachi mukherjee
(27274 Points)
Replied 02 January 2023
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170793 Points)
Replied 02 January 2023
Not in a single day............. yes, on different days....
Nishant
(Assistant)
(1095 Points)
Replied 03 January 2023
Sir Reporting of Cash Deposit of 50K or more by banks is this as per Income Tax Act? As per As per Section 285BA of the Income Tax Act, 1961, SFT Reporting limit is 10 lakh.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170793 Points)
Replied 03 January 2023
No not as per IT act, but may be RBI guidelines...
sabyasachi mukherjee
(27274 Points)
Replied 04 January 2023
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
