Cash deposit limit

Ms.Anikita

One can deposit any sum of money into his/her bank account.  The provisions of Section 269ST are not applicable to Banking Companies.

The source of cash receipt by the depositor is to be explained to the Income-tax Department if questioned.

  If the cash receipt is fallen within the ambit of section 269ST the depositor is liable to pay penalty u/s 271DA. 

You are aware the amount of penalty is equal to the receipt of cash.

Best Wishes

SathikondaA

Thank you for the help....

Regards,

Ankita