CASH DEPOSIT LIMIT FOR SAVING BANK ACCOUNT IN 2024 I INCOME TAX NOTICE I ITR FILING I CA Satbir

CASH LIMIT FOR SAVING BANK ACCOUNT IN 2024 after budget I CA Satbir singh
In this video we will discuss Cash Deposit and Cash Withdrawal limit for Saving Bank account in 2024 . We will also discuss about the Time limit for Income Tax Notice if cash is deposited or withdrawn in excess of specified limits,
0:00 How to Avoid Income Tax Notice
0:52 Daily and Annual Cash Deposit limit for Saving Bank Account
3:12 Limit of Cash receipt
5:57 Limit for Cash receipt on sale of property
6:27 When the bank will inform about Cash transactions to the Income tax Department
8:48 Limit for Cash Withdrawal from saving Bank account
9:55 Limit for making FDR (Fixed Deposit receipt) from Bank
13:28 How many Saving Bank Accounts can be opened by the person
15:23 Whether business transactions can be done from Saving Bank account
16:25 Time limit for issue of Income Tax Notice
17:55 How to check the transactions reported by Bank to the Income Tax Department
19:36 Recap of Limit for Cash Deposit , Cash withdrawal and FDR from Saving Bank Account
20:51 Cash Payment limit for Credit Card
21.20 Questions about saving Bank Account.
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DISCLAIMER ***
This video is merely a general guide meant for learning purposes only. All the instructions, references, content or documents are for educational purposes only and do not constitute a legal advice. We do not accept any liabilities whatsoever for any losses caused directly or indirectly by the use/reliance of any information contained in this video or for any conclusion of the information. Prior to acting upon this video, you're suggested to seek the advice of your financial, legal, tax or professional advisors as to the risks involved may be obtained and necessary due diligence, etc may be done at your end.

[@casatbirsingh]

Subscribe our Whatsapp Channel CA Satbir Singh Taxheal whatsapp.com/channel/0029VaElCCbA89MphpBXhB10

[@bhanudasshahade2672]

Thanks for the information .

[@53390]

It's excellent explained & very valuable information. Thanks for sharing.

[@casatbirsingh]

So nice of you, pls like and share

[@shailendrakumarsingh8803]

आपके समझाने का तरीका एक दम अलग है
अन्य CA या advocate जैसा डराने वालीं नही है
वैसे नियमानुसार scrutiny का नोटिस कितने समय मे आ जाना चाहिए

[@casatbirsingh]

THANKS, WITHIN 3 YEARS

[@moolchandbansal9779]

इनकम टैक्स विभाग के नोटिस को भी आप लोगों ने भूत बना दिया है, आएगा तो हो जाएगा

[@casatbirsingh]

thanks for comment

[@MurliPatel-kl9ry]

Aafisar Ko jhpadiya dunga notice aaya to 😂😂😂

[@pramodsinghnegi22]

Very useful information. Thanks for sharing 🙏

[@casatbirsingh]

So nice of you. please like and share

[@baljitbhatti6288]

Very useful infomation.Thank you.

[@casatbirsingh]

thanks, pls like and share

[@pramodlal1706]

VERY NICE information for General public

[@casatbirsingh]

Thanks. please like and share

[@mohammadsalman9931]

Shukriya Beer ji

[@casatbirsingh]

WELCOME. PLEASE LIKE AND SHARE

[@rajan-tarun]

Very nice information, learned a lot here.🎉

[@casatbirsingh]

Glad it was helpful!. please like and share

[@kapilkalra373]

Excellent service given by you by providing so useful information about our banking Accounts and related income tax laws…. Thanks and God bless you🙏🙏 keep it up

[@casatbirsingh]

THANKS. PLS LIKE AND SHARE

[@mukutrabha8099]

46

[@srmehta2007]

11111¹111¹11​@@casatbirsingh

[@vskadyan07]

जिस देश का राजा जब चोर होता है
तो जनता की मेहनत की कमाई को खा जाता है

[@casatbirsingh]

thanks

[@kamalbardia8203]

Very nicely explained by you
Thank you sir

[@casatbirsingh]

thanks . pls like and share

[@romeshsaldi9942]

Very nicely explained, Very useful information

[@casatbirsingh]

thanks . pls like and share

[@SukhSingh-re8eb]

Thanks for good information.

[@casatbirsingh]

Welcome. pls like and share

[@shashigupta4685]

Apne shi tarike se bata diya thanks 🎉

[@casatbirsingh]

THANKS, PLEASE LIKE AND SHARE

[@Harykrishna108]

Ek number ki jankari hai

[@casatbirsingh]

thanks for comment

[@dattabende2996]

Very nice information sir

[@casatbirsingh]

Thanks and welcome. PLS LIKE AND SHARE

[@sidhubalbirsingh723]

Pl continue your advice to us regularly

[@casatbirsingh]

THANKS . PLS LIKE AND SHARE

[@swatiarora6467]

Very Nice information Sir ,

[@casatbirsingh]

THANKS . PLEASE LIKE AND SHARE

[@user-zl8mx2of5c]

Good jankari Ji 🙏

[@casatbirsingh]

Thanks pl like and share

[@VinodSharma-wd4ru]

Excellent💯

[@casatbirsingh]

THANKS PLS LIKE AND SHARE

[@priyanshirawat684]

❤❤❤❤❤

[@casatbirsingh]

welcome. pls like and share

[@akshaykumar-nj4ok]

Very good presentation

[@casatbirsingh]

Thanks a lot. please like and share so that all can take benefits

[@pramodsinghnegi22]

Sir, pls make video for home loan, flat sales & purchases. And how we can avail benefit of own house property on let out and self occupied. Pls make detail video on this

[@casatbirsingh]

thanks for comment . will try

[@anantkr_trader-investor]

good work sir

[@casatbirsingh]

thanks , pls like and share

[@HIMANSHU.MEETLI]

Current account ke limit rule and regulations par video bnaye

[@casatbirsingh]

ALREADY MADE , PLEASE CHECK ON CA SATBIR SINGH CHANNEL

[@jitendrakaya8808]

Badi useful information di hai aapne sir, ye GST & I. T. Wale jine nahi denge kya?, aur aapke madhyam se purani limits ka virodh kyun nahi karte jaise ki 20000 loan limits, aaj ke vakt me bahut small amount limits hai, tax payers ko virodh karna bhi sikhaye Sir please...... Bahut Kuchh kahena hai sir, Thanks🌹

[@casatbirsingh]

thanks for comment . please like and share

[@lkpstudypioint1479]

Sir please make video for filling itr MP AND MLA person

[@casatbirsingh]

thanks for comment

[@Fitandtravelvlogs]

Nice

[@casatbirsingh]

Thanks

[@rashikpatel8411]

Sir please make video after scrutiny case,how to reply Shaw cause notice as to why the proposed variation should not be made under IT Act pl.

[@casatbirsingh]

Noted, Please like and share

[@dilipkumarmogra4879]

Please make video for Cash transaction in current account

[@casatbirsingh]

ALREADY MADE . PLEASE REFER CA SATBIR SINGH CHANNEL VIDEO ON CASH LIMIT FOR CURRENT ACCOUNT

[@sunilagarwal4947]

I had given 400000/- as loan to an individual. He has died. His successor wife is repaying loan any how in cash in installments . 20000 or 30000 any day in a month. And skip any month. I can't insist her nor I believe that har cheque may be honour. Now can I receive cash.

[@casatbirsingh]

NO LOAN REPAYMENT ABOVE RS 20000 CAN NOT BE RECEIVED IN CASH

[@tekramkumar2914]

ये काले कानुन बना दिये ''इसलिए लोग विदेशी बैंकों की और भागते हैं ''सरकार को समझाऐ कोई ।

[@casatbirsingh]

thanks for comment

[@VikasSharma-uj8ws]

Imandari se kamalo tojo rebet di gae hai wo hanti ka pair hai samje or choro ke liye sabhi sarkare buri hai har desh bura hai har niyam bura hai

[@susheelIndian]

Current Account Ke Liye Bhi Aisi He Detailed Jankari De Please 🙏

[@casatbirsingh]

THANKS

[@saurabh0980]

मैंने कल नकद 100 रुपए सेविंग अकाउंट में जमा किए और मुझे आज ही इनकम टैक्स का नोटिस आ गया😢😢

[@casatbirsingh]

what is the notice

[@Rajsingh-zr5yc]

After every sentence you don't have to say Dosto...Dosto 😊

[@casatbirsingh]

THANKS FOR FEEDBACK

[@AS69_Official]

Aap ki baato se lagata hai koi kitna bhi smart kyo n ho aapse jyada oversmart nahi ho sakta?

[@casatbirsingh]

i dont agree

[@adityakaku5844]

Sir pl make video for house sale and purchase

[@casatbirsingh]

ok thanks , will try

[@ReshamSingh-gt3ek]

NRI ke liae nro/ nre account ki v koi video banavo.thanks

[@casatbirsingh]

thanks. will try

[@baljindersekhon5759]

Good information
But video must be small

[@casatbirsingh]

THANKS , PLEASE LIKE AND SHARE

[@pankaj11421]

Sir muja fd rd se interest 1 lac ka milata h mere FD amount 7-8 lac ki h jo mena 2020-24 ka bich savings karka allg allg time pa banyee h ma ek choti normal shop pa kam krta hu kya muja ITR bhrni chahiye ya nahi
Yadi new ITR baharu to old jo fd h us amount ka source kya batyea income tax file ma or muja konsa ITR form bhru or kis time first ITR bahara

[@casatbirsingh]

better to file itr, you can say source is old savings

[@pankaj11421]

@@casatbirsingh sir my age 25 year muja konsa ITR form bharna chahiye or kab bharna chahiye muja fd,Rd sa intrest milta h or ma ek shop pa Kam karta hu please advise sir

[@pankaj11421]

Please reply

[@100kadam7]

Sir maine 14 lac cash deposit kar diya h saving account me ab kya karna jo income tax notice na aye

[@casatbirsingh]

file income tax return correctly to justify the amount

[@user-wt8fx8de2r]

Income tax department se kisi ki income details kaise nikal sakte hai like salary other income

[@casatbirsingh]

it is not allowed,

[@KrishanlalKakkar]

Sir make video current Ac

[@casatbirsingh]

thanks. working on it . coming soon...

[@zinguzingya9489]

I m working in Isreal and we don't have a TIN number here, and bank keeps on repeatedly sending me mail to update FATCA , but I am unable to proceed the page of TIN number entry since it is mandatory, I explained this to the bank replying them on the mail , but still they keep on sending mail , what should I reply or what is your suggestion

[@casatbirsingh]

Taxapayer identification Number . In india it is PAN number. You done file return in isreal ?

[@zinguzingya9489]

@@casatbirsinghIn Isreal we don't pay tax and hence we don't have TIN number

[@zinguzingya9489]

How can I fill up FATCA declaration which the bank is asking to do , without TIN number we cannot proceed in the declaration

[@Nonstop20]

Koi 10by 20 ka flot bechta hai 20 lakh ke kareeb to tax lga 20 lak pe 4 lakh ka ab 4 lakh ko kaise bachaye fir to kuch bacha b nhi 20 se 4 chala gya to kya fayda india me rehne ka

[@casatbirsingh]

TAX IS ON CAPITAL GAINS. IT IS NOT SALE AMOUNT. YOU CAN REINVEST TO SAVE TAX

[@palwindersohal9723]

Sir kya loan pay kar skate ha 200000 ek din me
? Agar yes to kya direct loan account me Jama karate?

[@casatbirsingh]

Yes can pay

[@sarohacvc6116]

How to rectify if a farmer brother deposit 3.00 lakh cash in his sister's account in one go as a loan or as help to his sister?
Can someone guide?

[@casatbirsingh]

NEED TO FILE ITR CORRECTLY

[@Radhadairyfarm]

Please provide वीडियों

[@casatbirsingh]

WHICH VIDEO ?

[@Radhadairyfarm]

@@casatbirsingh project reports for bank loan.

[@jitendranamdev5733]

वीडियो जरूर बनाएं सर जी

[@casatbirsingh]

thanks, pls refer my other videos also, pls like and share

[@rajendraarya1648]

Singh sahab agar kisi ne bank se car loan 1095000/- liya hai to us amount ko ITR mai kaha kese show karenge

[@casatbirsingh]

NOWHERE IF HE IS NOT BUSINESMEN

[@rajendraarya1648]

He is not business, he is a pensioner and his vehicle not used for business

[@vpsharma728]

I had fds in name of my house wife in the next yr i consolidated fds to reduce no of fds & made 3-4 fds of 10-& 5 lacs int is not in taxable limit I got msg fm itax to file itr but ca told income is below 2.5 l hence need not to file itr will i get notice, I have only consolidated old fds to reduce no of fds

[@casatbirsingh]

better to file ITR to avoid notice from income tax department even if income is below Rs 2.5 lakh

[@vasdevkhajuria4496]

Sir i received 35 lakh from a person through cheque the amount is still in my saving account since 10 months.will i get notice ?please reply, thanks

[@casatbirsingh]

if it is income.. declare in itr and pay tax then no notice, it it is loan then need to pay it back . income tax notice comes if search etc is conducted in other person or in your name

[@vasdevkhajuria4496]

Thanks a lot sir

[@trueindian4307]

Sir, property sale ki information bank se jati hai agar woh 10 lakhs by cheque se ho to.

[@casatbirsingh]

NO , IT IS FROM REGISTRAR

[@trueindian4307]

@@casatbirsingh sir agar property mei do buyer hai aur property 33lakhs ki hai to register inform kerga income tax department ko kyu ki dono ka share 16.5 lakhs AA rahe hai, pls inform.

[@mohdyusuf77]

Sir, could you plz guide if we get money in the saving bank account after etirement and FD is made,in this case will the bank inform it deptt.

[@casatbirsingh]

yes bank will inform, but you can explain the source of money that it is your retirement money.

[@jagtarsingh148]

Sir mein ne car lee hai us per tax rebait milti hai kya

[@casatbirsingh]

if electrical car only then , on interest

[@dineshchandraagarwal6136]

Current account ke bare main income tax rule bataye.

[@casatbirsingh]

thanks will try

[@sunilsutar1162]

वर्तमान प्रधान मंत्री सेविंग अकाऊंट मे कितने पैसे रख सकता है.

[@casatbirsingh]

No restriction on the number or amount of deposits

[@viranderchawla9182]

Sir
My 20 yrs Lic matured and received payment. Is it taxable. Pl clarify me.

[@VikasSharma-uj8ws]

No tax jab es par intrest ayega or wo 10000 se uppar hai tab tds kat kayega us se bi bacha ja sakta hai jankari le lena

[@casatbirsingh]

maturity proceeds of LIC is not taxable

[@subiskp]

Sir I have closed my FD of 12L in a FY and deposited in the name of my wife as FD ( 7L once and 5L after 4 months in the same FY ).New FD forms was filled up in the name of wife and the FD is made ( ie the amount was not collected by me and was adjusted towards new FD in the name of wife.) Will the ITD sent notice?
Further to that the interest from the above FD is included in my ITR.
Please comment and guide what to do further?

[@casatbirsingh]

Notice can come. you have to club FDR interet income in your ITR as it was transfreed without consideration

[@subiskp]

Thankyou very much sir ​@@casatbirsingh

[@user-st5zx8un5e]

Sir agar ak aam admi har sal 6lakh apne saving account me jama karta h or 5saal me 30lakh ho jati h to usa tax lagega sir plz reply ,,🙏

[@casatbirsingh]

NO ,IF ITR FILED EVERY YEAR FOR RS 6 LAKH

[@shubhamaggarwal5423]

Asli dushman bank he hai jo janta se kamata hai aur last main janta ki maarta hai

[@casatbirsingh]

I HAVE POSITIVE VIEW ON THIS

[@rakesh94376]

Senior citizen ka house sell money pe kya hoga

[@casatbirsingh]

NEED TO CALCULATE CAPITAL GAINS AND TAX ON IT

[@rajinder1466]

Sir exman agar disability pension+service pension le Raha hai to Kiya usee income tax Dena parega.

[@casatbirsingh]

needs to check how much income. please refer my video on new income tax slabs in 2024

[@rajinder1466]

Exman on disability pension tax exempted or not ?

[@kunwarsingh7566]

Sarkar ko sabhi note band kar dena chahia income tax ka koi kam nahi rahega public jae badh me

[@casatbirsingh]

thanks for comment

[@Vikramt21]

Sir I had withdrawn 16 lakhs from SBI savings account in November 2023 and bank deducted tds of 40 thousand,so when I had to file itr to get it refunded?? I have never filed tds!!
But bank is saying that tds certificate cannot be given unless your adhar and pan is link!!!
Please guide!!!!!

[@casatbirsingh]

give pan to bank and link aadhaar, ask bank to revise tds return

[@vishalbardia6242]

Write good msg in Hindi only

[@casatbirsingh]

thanks for feedback

[@shashivarun2252]

How many sb act in different banks pl

[@casatbirsingh]

NO LIMIT

[@shailendrapatel5633]

Total family ki income 3lakh ke upar hone par tax lagega ki ek vyakti ki hone pr

[@casatbirsingh]

ek vyakti ki hone pr

[@lordved156]

Withdrawal ki limit bataiye 1 mahine Mein 40000 nikal sakte hain ATM se to vah galat hai kya

[@casatbirsingh]

NO LIMIT , YOU CAN WITHDRAW

[@dayaram5662]

सर मैं एक सेवानिवृत अध्यापक हूं क्या मैं अपनी पत्नी के नाम 10 लाख की फिक्स्ड डिपॉजिट कर सकता हूं कृपया बताएं

[@casatbirsingh]

yes, but income from FDR to be shown by you in your ITR

[@hkm1986]

Actually sardarji is oversmart

[@casatbirsingh]

thanks for comment

[@debabrataghosh1987]

Bank Loan ac mey max kitna amt cash deposit kar sakta hu

[@casatbirsingh]

NO LIMIT. YOU SHOULD HAVE SOURCES TO PAY IN CASH

[@tarvindersingh1072]

ਨੈਸ਼ਨਲ ਹਾਈਵੇ ਅਥਾਰਟੀ ਆਫ ਇੰਡੀਆ ਵੱਲੋਂ ਮੇਰੀ ਖੇਤੀਬਾੜੀ ਦੀ ਜਮੀਨ ਅਕਵਾਇਰ ਕੀਤੀ ਗਈ ਹੈ ਅਤੇ ਉਹ ਪੁਸ਼ਤੈਨੀ ਹੈ
ਅਤੇ ਉਸ ਦੀ ਪੇਮੈਂਟ ਤਕਰੀਬਨ 16 ਲੱਖ ਰੁਪਇਆ ਆਈ ਹੈ ਤੇ ਮੈਂ ਉਹ ਸੇਵਿੰਗ ਬੈਂਕ ਵਿੱਚ ਦੋ ਸਾਲ ਤੋਂ ਰੱਖੀ ਹੋਈ ਹੈ ਕੀ ਮੈਨੂੰ ਉਸ ਦੇ ਉੱਤੇ ਟੈਕਸ ਦੇਣਾ ਪਏਗਾ
ਬਾਕੀ ਵੀਡੀਓ ਬਹੁਤ ਅੱਛੀ ਬਣਾਈ ਹੈ ਇਸ ਲਈ ਆਪ ਦਾ ਧੰਨਵਾਦ❤

[@cssidhu6884]

ਨਹੀਂ ਉਸ ਰਕਮ ਤੇ ਕੋਈ ਟੈਕਸ ਨਹੀਂ ਲੱਗਦਾ ਪਰ ਜੇ ਉਸਦਾ ਵਿਆਜ਼ 3 ਲੱਖ ਤੋਂ ਵੱਧ ਬਣਦਾ ਹੈ ਤਾਂ ਉਸ ਤੇ ਟੈਕਸ ਲੱਗੂ।

[@tarvindersingh1072]

@@cssidhu6884 ❤️👍🙏

[@casatbirsingh]

Need to declare the interest earned from saving bank account in itr

[@tarvindersingh1072]

@@casatbirsingh 👍❤️

[@arifshaikh7958]

50hazar ku baink Men rakhne ki ka zarorat hai wah 10din men safa chat hu jaiga

[@casatbirsingh]

pls explain how

[@DineshKumar-no3tx]

Jama karne ke baad kya kare

[@casatbirsingh]

FILE ITR CORRECTLY

[@mariaserrao5252]

Aap kuch bhi bol rahe hain कभी कोई bimar hote hai friends se lone lete hain doctor ki fees operation rates dekho koi over smart nahin hota

[@casatbirsingh]

THANKS FOR FEEBACK

[@rajendrajoshi930]

😊😊😊​@@casatbirsingh

[@narainbreja7416]

दो हज़ार चौबीस मैं कैश जमैका कोई नयाकनून नहीं आया है क्य

[@casatbirsingh]

NO.. IT IS SAME AS IN EARLIER YEAR

[@hitlarkumarroy6872]

UPI ke dura kitna 1year me kar sakte hai

[@casatbirsingh]

no limit

[@hitlarkumarroy6872]

Ok

[@pradeepkumardas7724]

Hell with the I T department.

[@casatbirsingh]

THANKS FOR COMMENT

[@sunilpatil9294]

ट्रांजेक्शन कसे करे सर

[@casatbirsingh]

no restriction on transactions , only evidence needs to be maintained

[@balasubramanianr4755]

These income tax is paid only by working class and business people.
I don't think politicians though they have a very good salary they ever pay tax. Over and above they have all travel expenses free internet electric expenditure free. And they and their family and also few close relatives amass crores and millions.
When will the govt and income-tax dept start looking into it. They will also be forced to pay tax.

[@casatbirsingh]

thanks for comment

[@user-vu3ow4wj7k]

Sir my 12000 tex returns kasi hoga

[@casatbirsingh]

NEED TO FILE ITR

[@vishalbardia6242]

Correct word
Tax

[@jagdishkumarsuri-ez9bs]

Dear Singh, Being C.A. your words i.e. over smart is not suitable during conversation, please think.

[@casatbirsingh]

thanks for comment

[@nandkishoresaxena3835]

यदि अनपढ है और समझ मे नही आता है तोकया करे

[@casatbirsingh]

yes koi bahana nahi chalega

[@junebod]

Hum GST bhavan aur ED CBI RBI pe tax free FD karne jaa rahe hain

[@casatbirsingh]

THANKS FOR COMMENT

[@9970715226]

Central govt servant
Regular tax payer for 20 yrs
All white money
Cash withdrawal of Rs 30 lakhs in May 23 for daughter's higher education, two neice's marriage in 2023 and house repair in Apr 23
No proof of spending
Also purchased property in name of wife in the same month
Will it attract IT notice
Can I deposit back remaining cash of Rs 15 lakhs in the same account?
Regards

[@casatbirsingh]

YOU CAN DEPOSIT, NOTICE CAN COME FOR WITHDRAWAL

[@9970715226]

​@@casatbirsinghthanks sir
Really appreciate