Central Board of Direct Taxes (CBDT) has changed the rules of the Income Tax Act. Changes made by the Board on November 15, the CBDT has asked banks of November 9 to December 30 of a person in one or more current account deposits at 12.5 lakh or more cash given to the information board said.
The department will send notices
Those banks have been asked to give insights into their savings account at the time the deposit is Rs 2.5 lakh or more cash. If CBDT exceed the cash deposit is made to the income tax department issued a notice to account holders.
Those banks have been asked to give insights into their savings account at the time the deposit is Rs 2.5 lakh or more cash. If CBDT exceed the cash deposit is made to the income tax department issued a notice to account holders.
Money shall tell whence
If you exceed the amount of the cash deposited in the bank's IT department alone will not notice, but will also tell you the source of your income. These new rules by the government last week after 500 and 1000 rupee notes came off.
If you exceed the amount of the cash deposited in the bank's IT department alone will not notice, but will also tell you the source of your income. These new rules by the government last week after 500 and 1000 rupee notes came off.
What was the first frame?
As a reminder, the last rule in the savings account cash deposits up to Rs 10 lakh in a year but now this amount may be reduced to 2.5 has been Rs. On the other side of the border to deposit cash in the current account and more than 50 million, but now it has been Gtankr Rs 12.5 lakh.
As a reminder, the last rule in the savings account cash deposits up to Rs 10 lakh in a year but now this amount may be reduced to 2.5 has been Rs. On the other side of the border to deposit cash in the current account and more than 50 million, but now it has been Gtankr Rs 12.5 lakh.
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