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00:00How much cash can be deposited in a savings account?
00:05Everyone must know how much money can be deposited in a savings account.
00:12Deposit limit
00:13Exceeding the deposit limit in a savings account may attract income tax scrutiny.
00:18Do you know the limit?
00:21Financial year limit
00:23Banks must report savings accounts with cash deposits
00:26or with draws of ₹10 lakh or more in a financial year.
00:33Income tax scrutiny
00:35Depositing or with drawing over ₹10 lakh may lead to an income tax inquiry.
00:43Adhar number
00:44Income tax guidelines require providing PIN or Adhar details.
00:50PIN required
00:51Cash deposits exceeding ₹50,000 require a PIN.
00:55Only ₹2 lakh can be deposited in a single day per income tax law.
01:02₹2 lakh limit
01:04Cash transactions exceeding ₹2 lakh are not allowed in a single day.