Can i deposit 5 lakhs cash in my account

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August undefined, 2024

WebDec 12, 2024 · According to a statement by PMO, with deposit insurance coverage of Rs. 5 lakh per depositor per bank, the number of fully protected accounts at end of previous … 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 $50000 cash in bank? - FinanceBand.com

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 ... WebDec 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... cummins fan hub adapter

Can I deposit 2 lakhs in my account? - FinanceBand.com

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 ... 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. 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 ... eastwood role in rawhide

Cash deposit of about 5.5 lakhs in my savings account

Can I deposit 50 lakhs in my savings account? - FinanceBand.com

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. 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. cummins engins co inc electric fan cluchWebCash 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 … eastwood sand blasting cabinet

"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 … " - Can i deposit 5 lakhs cash in my account

Can i deposit 5 lakhs cash in my account

Depositing 20 lakhs by cheque in savings account

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 … 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?

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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 … 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 · 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. 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 …

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 …

Web9 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 …

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 … eastwood richmonde manilaWeb1,609 Likes, 19 Comments - cs.keerthana.shreesha (@keerthis_finfo) on Instagram: "When investing, we should always diversify across different asset classes. However ... eastwood road salt neutralizerWebApr 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 … eastwood saturn 63WebFeb 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. eastwood rowe street medicalWebJun 24, 2024 · Forgot to deposit minimum amount in your PPF account? Here is what you may lose & ways to revive it While the maximum investment limit is Rs 1.5 lakh in a financial year, a minimum annual... eastwood rod bending toolWebAnswer (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 … eastwood road penrynWebMay 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... eastwood rust preventer