Can i deposit 5 lakhs cash in my account

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August undefined, 2024

WebJan 17, 2024 · What if I deposit 5 lakhs in my account? 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. WebAnswer (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 …

How much cash can be deposited in bank without PAN card?

WebAffordable & efficient banking for single-city businesses. Features of Regular Current Account. Deposit up to 2 lakhs cash free per month OR 25 txns (whichever is … WebJan 20, 2024 · It seems 1.5 lakh such accounts might have received more than Rs 10 lakh between November 9, 2016 and December 30, 2016. Holders of these accounts will … schairer brothers egg harbor nj

Now, depositors can withdraw up to ₹5 lakh if bank placed und…

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 … 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 … WebJun 13, 2024 · Then in such a situation entire Rs. 3 lakhs can be paid in cash etc. mode i.e., Rs. 1 lakh by the person being married, Rs. 1 lakhs by the father and Rs. 1 lakhs by the mother. Even if all the bills are in the joint names of three persons then also the payment can be made in the above manner. ... (ALL) that cash deposit in the bank account of ... rush med peds

Restrictions on Cash Transactions of Rs. 2 Lacs or More under

Post Office Time Deposit (TD) Calculator 2024: Save income tax …

Web13 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 … 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. rush medium duty denverWeb9 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 … rush medium duty ford

"WebFeb 9, 2024 · Can I deposit 5 lakhs cash in my account? 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. " - Can i deposit 5 lakhs cash in my account

Can i deposit 5 lakhs cash in my account

6 banks offering above 8% interest on 3-year fixed deposits (FDs) …

WebNov 10, 2014 · 1. You can deposit the cheque in your account. The interest earned would be added in your income. You have to pay capital gains tax if applicable. You can deposit the amount in any bank including Cooperative Bank.Seek the advise to get exemption from capital gains tax from the tax consultant. WebMy Account; Register a Complaint; Sales 1800-208-8787; Service 1800-258-5970; Download Mobile App. ... the investor's initial deposit of Rs. 1 lakh has grown to Rs 1,46,932.88 with a total interest earned of Rs. 46,932.88. ... You can avail of a loan against your Money Double Scheme. The loan amount will depend on the amount of your …

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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 … 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 …

Web1,609 Likes, 19 Comments - cs.keerthana.shreesha (@keerthis_finfo) on Instagram: "When investing, we should always diversify across different asset classes. However ... WebMay 22, 2024 · Updated: 22 May 2024, 09:42 AM IST Balwant Jain PPF scheme: There is no restriction on any of parent or both the parents contributing to the PPF account of a child. The annual deposit limit of...

WebApr 14, 2024 · In the old regime, you can get a deduction of up to Rs 1.5 lakh in a financial year by investing in these funds. But are these funds useful for those opting for the new regime? There are two questions to answer here: What should you do with your existing investments in ELSS funds if you have opted for the new regime?

WebFeb 9, 2024 · Can I deposit 5 lakhs cash in my account? Individuals who deposit cash above Rs. 2.5 lakh and senior citizens who deposit cash above Rs. 5 lakh may be …

WebMar 19, 2024 · “The tax laws require banking companies to report cash deposits and withdrawals of Rs 10 lakh or more in bank accounts, other than current or time deposit … rush medical university chicago illinoisWebJun 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 … rushmed pharmacyWebNov 21, 2016 · Also, deposits of Rs 12.5 lakh or more in a current account need to be reported to the authorities. The notification also said that the permanent account number … rush medium duty truck center denver coWebMar 22, 2024 · 1. Insurance on deposits in bank accounts is only till INR 5 lakh (this is a concern if its a new age &/or not a very big bank). 2. Risk of cyber frauds. To get a safety … rush medium duty fontanaWebJan 20, 2024 · It seems 1.5 lakh such accounts might have received more than Rs 10 lakh between November 9, 2016 and December 30, 2016. Holders of these accounts will have to disclose the source of such income and justify deposits. Authorities will also consider specified deposits even in regional rural banks and cooperative banks. rush medical university jobsWebAnswer (1 of 6): You can deposit any amount in your saavings Bank. Hope this money is by Cheque or by money transfer. Cash can be deposited but bank would like to know … schairer farms birnamwood wiWebDear 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 … schairer trail center