Can i deposit 5 lakhs cash in my account
WebDear Sir. Since it is a cash deposit, only you are responsible for the same. You should be in position to explain the source for the same. Since there is a system of Annual … WebApr 10, 2024 · You can avail tax deduction of a maximum ₹1.5 lakh as per Section 80C by investing in Tax Saving Fixed Deposit You can easily add a nominee to your FD accounts. Kotak Mahindra Bank charges no prepayment penalty for premature FD withdrawals before 180 days (penalty of 0.5% and 1% for premature withdrawals of less than 364 days and …
Can i deposit 5 lakhs cash in my account
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WebFeb 9, 2024 · Individuals who deposit cash above Rs. 2.5 lakh and senior citizens who deposit cash above Rs. 5 lakh may be scrutinised. Any amount within the specified limit will be excluded from scrutiny considering that the money is from household savings, cash withdrawals, earlier income, and so on. WebApr 13, 2024 · Post Office Time Deposit Accounts can be held for a duration of 1 year, 2 years, 3 years, or 5 years. The deposit period can be extended for a year upon maturity by giving an application. Post Office Time Deposit Account: Deposit amount. Post Office TD account can be opened for a minimum amount of Rs 1000 and in multiples of Rs 100 …
WebMay 11, 2024 · Cash deposit in FD: The Central Board of Direct Taxes has said that banks have to report if a person deposits in one or more time deposits (other than a time … WebDec 25, 2024 · 2] Bank savings account deposits: The cash deposit cap in a bank account is ₹ 10 lakh. If a savings account holder deposits more than ₹ 10 lakh during a financial year, the income tax ...
Web1,609 Likes, 19 Comments - cs.keerthana.shreesha (@keerthis_finfo) on Instagram: "When investing, we should always diversify across different asset classes. However ... WebFeb 9, 2024 · There are no limits to the amount of money you can deposit into your checking or savings account. Except for a few formalities, the process of depositing a large amount of money is similar to that of smaller amounts. Can I …
WebFeb 9, 2024 · What is the limit to deposit cash in bank in India? Individuals who deposit cash above Rs. 2.5 lakh and senior citizens who deposit cash above Rs. 5 lakh may be scrutinised. Any amount within the specified limit will be excluded from scrutiny considering that the money is from household savings, cash withdrawals, earlier income, and so on.
WebCash deposits, while allowed in a fixed deposit (FD), should not exceed ₹10 lakhs. You can make large FD transactions through other traceable means such as cheques or Mobile banking App. Credit card bill … notre dame white lot parkingWeb9 hours ago · Dead money in Subaida's account. Subaida Beevi (76) Chirayinkeezhu in Thiruvananthapuram district has several health issues, including clotting of blood in the head. But she cannot access the Rs 2.36 lakh in her account with the Federal Bank because it was frozen on June 7, 2024, nearly two years and a half ago. The account … notre dame welcome homeWebSep 29, 2024 · What this means is that even though you can open two accounts, the total deposit in both the accounts cannot exceed the overall allowed maximum limit for a single person which is currently Rs 1.5 lakh in a financial year. Section 80C benefit for PPF PPF is one of the most popular investment instruments due to its government backing and tax ... notre dame west haven logoWeb13 minutes ago · A person eats a meal at a hotel in Muppathadam in Kerala and pays the bill using a unified payment interface (UPI). Unfortunately, the UPI account from which the payment was made is linked with an online fraud. The result? The bank accounts of the hotel, its chicken supplier and the father-in-law of the supplier are now frozen on orders … notre dame white hatWebJun 24, 2024 · While the maximum investment limit is Rs 1.5 lakh in a financial year, a minimum annual investment of Rs 500 is necessary to keep a PPF account active. An … notre dame white panel footballWebA Salary Account is a type of savings bank account dedicated to receiving your monthly salary deposited by your employer. It has plenty of benefits, which you can read here. … notre dame west haven lacrosseWebAnswer (1 of 12): Depositing the money in the bank with the recent developments in the income tax area, Its a very risky move even though its a 2.5Lac rupees because of the following reason where you might … notre dame white sweatshirt