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Cash in bank account

Raghavan s (4 Points)

01 November 2023

maximum cash deposit in bank account in one FY

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7 Replies

Ashwin Kumar (CA ipcc) (449 Points)
Replied 02 November 2023

Savings 10 lakhs, current no limits

1 Like

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Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 02 November 2023

Is it for Tds purposes or Only deposit limit ?

1 Like

Raghavan s (4 Points)
Replied 03 November 2023

Only deposit limit not for TDS

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 04 November 2023

Savings account?

sabyasachi mukherjee (27117 Points)
Replied 04 November 2023

In one financial year in bank account.

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CA Raj Doshi (Practising CA) (8898 Points)
Replied 06 November 2023

You can deposit how much ever you want if it's legitimate and earned or saved from legitimate disclosed income. The other limits are the reporting limits which when crossed , the bank will report that account number and PAN to the Income Tax Department