received message from bank

214°
Deal Newbie
rahulsoni070...

Today i received this message from my bank
“Cumulative credits in your a/c-XXXXXXXX have exceded Threshold limit fixed in your a/c. Pls contact your branch alongwith income/turnover proof to update limit”
What is the meaning of this message can anyone here explain also is this some serious as I don’t file itr
T I A

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Deal Cadet Deal Cadet
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best of luck
you need to explain bank why were so many credits to your account
if you fail to do so, they have right to freeze your account

Analyst Analyst
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And how much is the credit so far in this account? And what is the account type, like savings/current/BSBDA etc?

Deal Newbie Deal Newbie
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drupal wrote:

Which bank is this?

Earlier it was oriental now after merger it has become pnb around 2-3 lacs is deposited since march didn’t understand as in my another account i have deposited more than this amount previously but didn’t received any message from bank

Deal Subedar Deal Subedar
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rahulsoni0706846 wrote:

Earlier it was oriental now after merger it has become pnb around 2-3 lacs is deposited since march didn’t understand as in my another account i have deposited more than this amount previously but didn’t received any message from bank

What type of saving account it is ?? Is it BSBDA

Deal Newbie Deal Newbie
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andromeda wrote:

And how much is the credit so far in this account? And what is the account type, like savings/current/BSBDA etc?

Around 2-3 lacs deposited in cash since march, less than 4 lacs total credited sinch march including cash deposit and transfers, this is a normal savings account

Deal Lieutenant Deal Lieutenant
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Just visit branch and let them know source of funds. Take some supporting doc along.

Deal Newbie Deal Newbie
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igen wrote:

Just visit branch and let them know source of funds. Take some supporting doc along.

I don’t have any supporting docs as I don’t file itr actually in couple of months i have shopped for around 2 lacs so in order to clear my cc bills I deposited money in my bank account, fyi i have ordered things for family and friends but through my card and they have given me cash for their items

Deal Lieutenant Deal Lieutenant
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rahulsoni0706846 wrote:

I don’t have any supporting docs as I don’t file itr actually in couple of months i have shopped for around 2 lacs so in order to clear my cc bills I deposited money in my bank account, fyi i have ordered things for family and friends but through my card and they have given me cash for their items

Father files ITR? Take him along with ITR. You are facing this issue due to cash deposits afaik.

Deal Cadet Deal Cadet
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You may be unaware of the fact that depositing more than 2 Lakh in cash in a quarter invite such annoying things from bank as they are directed by RBI to take income proof or source of fund for such deposits i.e why I have bank account in every big name. SBI/PNB/ICICI/Axis/HDFC/Kotak/Canara. At once I don’t deposit more than 49000 in one txn and more than 2 Lakh in any account.

Even though I file my ITR I know how to take care of such things. Now what you can do is visit the bank and update your income details in KYC and FATCA/FCRA limits. You wont get such texts again. In all my banks I have shown my asset and income as 1 crore and 10 lakh repsectively. Kam nikal jaye koi baat nahi zyada nikal gayi toh tumhari koi baat ni hogi fir ghar walo se.

Trans: Modi Meherban toh Halak mein atake jaan. smile

Deal Cadet Deal Cadet
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desiviru wrote:

In all my banks I have shown my asset and income as 1 crore and 10 lakh repsectively.

Do you file ITR for 10L? If not then will that be an issue?

Deal Cadet Deal Cadet
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desiviru wrote:

You may be unaware of the fact that depositing more than 2 Lakh in cash in a quarter invite such annoying things from bank as they are directed by RBI to take income proof or source of fund for such deposits i.e why I have bank account in every big name. SBI/PNB/ICICI/Axis/HDFC/Kotak/Canara. At once I don’t deposit more than 49000 in one txn and more than 2 Lakh in any account.

Even though I file my ITR I know how to take care of such things. Now what you can do is visit the bank and update your income details in KYC and FATCA/FCRA limits. You wont get such texts again. In all my banks I have shown my asset and income as 1 crore and 10 lakh repsectively. Kam nikal jaye koi baat nahi zyada nikal gayi toh tumhari koi baat ni hogi fir ghar walo se.

Trans: Modi Meherban toh Halak mein atake jaan. smile

Does it also apply for money rotation online from my one bank to another just for getting cashbacks?

Post Emperor Post Emperor
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If you have deposited more than 49k in single time or more than 10L in one financial year in your banks then this shit happens.
I guess you are using your credit card offers for reselling online stuff. rolleyes

Deal Subedar Deal Subedar
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rahulsoni0706846 wrote:

I don’t have any supporting docs as I don’t file itr actually in couple of months i have shopped for around 2 lacs so in order to clear my cc bills I deposited money in my bank account, fyi i have ordered things for family and friends but through my card and they have given me cash for their items

Wow, you deposited 2 lakhs in cash….

Deal Newbie Deal Newbie
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sanketpero wrote:

If you have deposited more than 49k in single time or more than 10L in one financial year in your banks then this shit happens.
I guess you are using your credit card offers for reselling online stuff. rolleyes

No I don’t resell products neither i do money rotation

Blaze Blaze
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myfungang829 wrote:

Wow, you deposited 2 lakhs in cash….

Moody jee trying to make india digital and mah boi depositing 6 digit figures in cash to clear credit dues sweat_smile

Deal Cadet Deal Cadet
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Mufasa wrote:

Does it also apply for money rotation online from my one bank to another just for getting cashbacks?

We are talking of cash deposits. Online transactions are nowhere regarded as cash deposits. Digital txns have limits of 10 Lakh per month. If it is more than that Bank has to report to RBI/IT Dept. Similarly Fixed Deposits over 30 Lakh in a FY is reported to IT dept. If you have source you can just reply them online with pdf.

I was too issued notice to furnish 80C deductions I filedf in ITR and I submitted the reply with pdfs. Next day my ITR processed. But if you don’t have solid proofs then you need to worry.

Deal Cadet Deal Cadet
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mango-man wrote:

Do you file ITR for 10L? If not then will that be an issue?

There is something called reading full comment. I already said that I file ITR before the lines you carved out to ask question. smile

Deal Cadet Deal Cadet
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desiviru wrote:

We are talking of cash deposits. Online transactions are nowhere regarded as cash deposits. Digital txns have limits of 10 Lakh per month. If it is more than that Bank has to report to RBI/IT Dept. Similarly Fixed Deposits over 30 Lakh in a FY is reported to IT dept. If you have source you can just reply them online with pdf.

I was too issued notice to furnish 80C deductions I filedf in ITR and I submitted the reply with pdfs. Next day my ITR processed. But if you don’t have solid proofs then you need to worry.

15 Lakh per mont/1 financial year? I am asking have multiple banks, I just rotate fund from my 1 bank to another. All the banks has same pan linked. No cross fund transfer.

Deal Cadet Deal Cadet
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Mufasa wrote:

15 Lakh per mont/1 financial year? I am asking have multiple banks, I just rotate fund from my 1 bank to another. All the banks has same pan linked. No cross fund transfer.

I have answered but you are not able to understand. So simplifying it.

Rotation of funds between own accounts is no worry. That’s it.

If you are generating income from this rotation and it is more than 2.5 Lakh per FY then you need to file ITR. Basic exemption limit is 2.5 Lakh only though there is no tax till 5 Lakh as you get Rs.12500 exemption under Sect 87A.

Deal Cadet Deal Cadet
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desiviru wrote:

There is something called reading full comment. I already said that I file ITR before the lines you carved out to ask question. smile

There is something called reading the full question and understanding it before giving a haughty reply.

I specifically asked whether you file ITR showing income of 10L.

Blaze Blaze
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@rahulsoni0706846
Chill bro. Just visit the branch and sort it out. Dont worry too much.
Explain reason for purchase and source of fund that you did to your manager. It’ll be OK

Deal Subedar Deal Subedar
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desiviru wrote:

You may be unaware of the fact that depositing more than 2 Lakh in cash in a quarter invite such annoying things from bank as they are directed by RBI to take income proof or source of fund for such deposits i.e why I have bank account in every big name. SBI/PNB/ICICI/Axis/HDFC/Kotak/Canara. At once I don’t deposit more than 49000 in one txn and more than 2 Lakh in any account.

Even though I file my ITR I know how to take care of such things. Now what you can do is visit the bank and update your income details in KYC and FATCA/FCRA limits. You wont get such texts again. In all my banks I have shown my asset and income as 1 crore and 10 lakh repsectively. Kam nikal jaye koi baat nahi zyada nikal gayi toh tumhari koi baat ni hogi fir ghar walo se.

Trans: Modi Meherban toh Halak mein atake jaan. smile

At once I don’t deposit more than 49000 in one txn and more than 2 Lakh in any account.

sir if pan is given and person is filing itr then can more than 50000 be deposited at once?

Deal Subedar Deal Subedar
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desiviru wrote:

We are talking of cash deposits. Online transactions are nowhere regarded as cash deposits. Digital txns have limits of 10 Lakh per month. If it is more than that Bank has to report to RBI/IT Dept. Similarly Fixed Deposits over 30 Lakh in a FY is reported to IT dept. If you have source you can just reply them online with pdf.

I was too issued notice to furnish 80C deductions I filedf in ITR and I submitted the reply with pdfs. Next day my ITR processed. But if you don’t have solid proofs then you need to worry.

Similarly Fixed Deposits over 30 Lakh in a FY is reported to IT dept.
under sft? isnt this limit 25 lacs?

Deal Subedar Deal Subedar
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desiviru wrote:

We are talking of cash deposits. Online transactions are nowhere regarded as cash deposits. Digital txns have limits of 10 Lakh per month. If it is more than that Bank has to report to RBI/IT Dept. Similarly Fixed Deposits over 30 Lakh in a FY is reported to IT dept. If you have source you can just reply them online with pdf.

I was too issued notice to furnish 80C deductions I filedf in ITR and I submitted the reply with pdfs. Next day my ITR processed. But if you don’t have solid proofs then you need to worry.

I was too issued notice to furnish 80C deductions I filedf in ITR and I submitted the reply with pdfs. Next day my ITR processed. But if you don’t have solid proofs then you need to worry.

what exactly they asked you to show in this section? and what did you reply them with?

Missing