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Can i deposit 5 lakhs cash in my account

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 … Web7 hours ago · If you are looking to invest in fixed deposits, here are six banks that offer more than 8 per cent interest on short-term fixed deposits (up to three-year tenure). DCB Bank DCB Bank offers an interest rate of 8.50 per cent to senior citizens for deposits maturing between 15 months and 24 months for amounts below Rs 2 crore.

Revision in limits of Cash Transactions Charges - ICICI BANK

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 … 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 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. r kelly tapes footage https://mayaraguimaraes.com

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

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. 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. WebJun 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 … smsc phys

Can I deposit $50000 cash in bank? - FinanceBand.com

Category:Depositing 20 lakhs by cheque in savings account

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Can i deposit 5 lakhs cash in my account

I had 5 lakhs in my savings account can I deposit 2.5 now …

WebNov 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 … 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 …

Can i deposit 5 lakhs cash in my account

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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. 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 …

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 ... 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 …

WebFeb 9, 2024 · Till now, the limit for cash deposit without PAN was Rs 50,000 per transaction. A lot of people were depositing less than Rs 50,000 per day to escape the … WebSep 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 ...

WebMar 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 …

WebAnswer (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 … smsc phoneWebDec 12, 2024 · Rs 5 Lakh Deposit Guarantee: Now Mandatory for Banks to Return Money Within 3 Months, says PM With deposit insurance coverage of Rs. 5 lakh per depositor per bank, the number of fully... r kelly stuck in the closet lyricsWebDear 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 … r kelly thank god it\u0027s friday youtubeWebFeb 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. smsc phone numberWebMar 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 … r kelly tempo slowWebMy 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 … sms country networks pvt. ltdWebNumber limit (sum total of deposits and withdrawals) 5 free cash transactions per month. Charges above free limits: Rs. 150 per transaction. OR. Value limit (sum total of deposits and withdrawals) The value limit is inclusive of both Home and Non home branch transactions. Up to Rs. 2 lakh. Free per month per account. r. kelly tempo slow