Can I deposit 3 lakhs cash in my account?

Since there is a system of Annual Information Return being filed by banks, your cash deposit exceeding Rs. 10 Lakhs in a Savings account / exceeding Rs. 2 lakhs is not allowed as per Section 269ST of the Income tax, which will land you in a penaly of Rs. 10 Lakhs.

Can I deposit 4 lakh cash in my savings account?

The cash deposit limit on savings accounts is ₹1 lakh. One of these is the limit on cash deposits.

Can I deposit 4 lakhs Cheque in my account?

Any cheque-deposit beyond Rs 50,000 needs the details of PAN – card and so is the case with the deposit of a cheque containing Rs 200000. However, during the financial/accounting year, you have to take the cheque into account for the purpose of calculation of income tax.

What happens if you deposit 2.5 lakhs?

Individuals who deposit cash above Rs. 2.5 lakh and senior citizens who deposit cash above Rs. 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 transfer 3 lakh through Cheque?

No limit on amount of transfer. Account number and IFSC(Indian Financial System code) are mandatory. Fund transfer generally occurs same day. Transaction Cost is based on amount of transferring: Rs 2.50/- for rupees less than 10000/-.

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.

How much cash can I deposit in a month?

No bank has any limit on what you deposit. The $10,000 limit is a simply a requirement that your bank needs to notify the Federal government if you exceed. That’s all. The Feds assumed that a few people exceeding that limit were basically bristling with drug money (since drugs are usually transacted in cash.