Cash Deposit Limit to Avoid Income Tax Notice || Maximum UPI Limit In 1 Year
In this video, we will discuss the cash deposit limit in India and how to avoid getting an income tax notice. The Reserve Bank of India (RBI) has set a certain limit on cash deposits in savings accounts. Any amount deposited above this limit will be reported to the Income Tax Department (ITD). If the ITD finds that you have deposited cash above the limit without paying taxes, you could be liable for a penalty.
In the 2nd part of the video, we will also discuss how you can avoid Income Tax Notice for Online Transactions.
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