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Cash deposit in bank account info needed

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42°
Deal Newbie
cab.ssm379

Please guide.

How much cash can we add in a bank account in one single year?
And cash withdraw limit if any?

Do Income Tax people care all this?

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Budding Star Budding Star
Sigma999
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You can deposit & withdraw unlimited amount, however Rs.10 lakhs deposits per annum may attract income tax scrutiny. Also, individuals who deposit cash above Rs.2.5 lakhs and senior citizens who deposit cash above Rs.5 lakhs may be scrutinised.

Deal Cadet Deal Cadet
Mufasa
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Sigma999 wrote:

You can deposit & withdraw unlimited amount, however Rs.10 lakhs deposits per annum may attract income tax scrutiny. Also, individuals who deposit cash above Rs.2.5 lakhs and senior citizens who deposit cash above Rs.5 lakhs may be scrutinised.

What about deposit by online transfer?

Deal Subedar Deal Subedar
Superdry
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Instead think about deposit charges. Various deposit charges for various amount. Check that first

Budding Star Budding Star
Sigma999
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Mufasa wrote:

What about deposit by online transfer?

That depends on case to case basis..

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