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<\/i> Income tax <\/a> Income Tax Rules Specified Financial Transactions Cash Deposits Withdrawals <\/h1> <\/div>
As per the Income Tax Act, specific financial transactions are identified. If, during a financial year, an individual deposits cash amounting to Rs 10 lakh or more in a savings account, the bank is obligated to report such transactions. <\/p>
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<\/div> Krishna Gopal Varshney <\/a>
An editor at Myitronline<\/p> <\/div>

Feb 28, 2025<\/li>
5 min read<\/li>
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As per the Income Tax Act, specific financial transactions are identified. If, during a financial year, an individual deposits cash amounting to Rs 10 lakh or more in a savings account, the bank is obligated to report such transactions.

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Krishna Gopal Varshney <\/a><\/h4> An editor at Myitronlinenews<\/small> <\/div> View Articles<\/a> <\/div>
Krishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business\/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates. <\/p> <\/div> <\/div>

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