How much cash can you deposit in a savings account in a year? Here's what happens if you cross the limit
· livemint.com
Large cash deposits in savings accounts can attract scrutiny from banks and tax authorities. Deposits exceeding ₹10 lakh in a financial year must be reported, requiring depositors to disclose their sources to avoid potential tax implications.
Cash deposits into a savings account may seem like a routine banking transaction, but large cash deposits can attract regulatory and tax scrutiny. Banks are req...