How much cash can be deposited in a savings account?

Everyone must know how much money can be deposited in a savings account.

Exceeding the deposit limit in a savings account may attract income tax scrutiny. Do you know the limit?

Banks must report savings accounts with cash deposits or withdrawals of ₹10 lakh or more in a financial year.

Depositing or withdrawing over ₹10 lakh may lead to an income tax inquiry.

Income tax guidelines require providing PAN or Aadhaar details.

Cash deposits exceeding ₹50,000 require a PAN. Only ₹2 lakh can be deposited in a single day, per income tax law.

Cash transactions exceeding ₹2 lakh are not allowed in a single day.