Fixed Deposit (FD) Limit to Avoid Income Tax Notice | Max Bank FD Limit - For No Income Tax Notice

Описание к видео Fixed Deposit (FD) Limit to Avoid Income Tax Notice | Max Bank FD Limit - For No Income Tax Notice

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Depositing an amount exceeding ₹10 lakh in a single or combined financial year attracts attention from the Income Tax Department (ITD) in India. Any cash deposit surpassing ₹10 lakh in a financial year (April 01 to March 31) across all your savings accounts is duly reported to the ITD. The Central Board of Direct Taxes (CBDT) requires banks to report such transactions. Even if the deposit is divided among multiple accounts, any cumulative amount exceeding ₹10 lakh will still be flagged.


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