Learn the income tax rules on cash deposits . Understand the limits , tax implications, and how it affects savings account holders with CaptainBiz. Cash Deposit Limit in Saving Account as Per Income Tax The cash deposit limit in savings accounts refers to the maximum amount of cash that an individual can deposit within a specified period without attracting the attention of tax authorities. This limit is set by income tax regulations to monitor and regulate the flow of cash transactions, curbing the potential for money laundering, tax evasion, and other illicit financial activities. As per the provisions outlined in the Indian Income Tax ... The IT department has set a limit to the amount of cash you can deposit in your savings bank account in a financial year. How much is it and what happens if you surpass it. Learn the limits and rules for cash deposits in savings accounts . Discover how much cash can be deposited in savings accounts and optimize your finances. Read more now!
