How much cash can I deposit in bank accounts?Without tax or notice!

[doraemon]

Hey people
We are purchasing a shop costing 20 lakhs
We have cash and want to deposit that in bank account for cheque issue purpose


How can I deposit in such a way it doesn't not attract tax or it department attention


I have 13 accounts
Can I deposit 49k in each of them?

Need your inputs in this

 

[deep@vie]

How money can be white if tax is not paid,then there's no black money concept.
It's not Dubai,it's India.

 

[praful1947]

How money can be white if tax is not paid,then there's no black money concept.
It's not Dubai,it's India.

Kya pata wo Paisa savings ho ...
Savings pe bhi tax dena padta h kya .
Paisa ka source kuch bhi hosakta h .
Agar wo Paisa white bhi hai aur uske pas explanation bhi hai .... To bhi koi unnecessary ITD notice ka samna kyu kare.

This thread is not about black money or white money .

 

[deep@vie]

Kya pata wo Paisa savings ho ...
Savings pe bhi tax dena padta h kya .
Paisa ka source kuch bhi hosakta h .
Agar wo Paisa white bhi hai aur uske pas explanation bhi hai .... To bhi koi unnecessary ITD notice ka samna kyu kare.

This thread is not about black money or white money .

Unawareness is a big issue.
People think if they earn less than 5l,currently 7l for new regime, they don't need file ITR.
At a later stage,they might face the notice as the department will ask,even for saving one need to earn & show to department.

 

[praful1947]

Unawareness is a big issue.
People think if they earn less than 5l,currently 7l for new regime, they don't need file ITR.
At a later stage,they might face the notice as the department will ask,even for saving one need to earn & show to department.

Income below 3L (new tax regime) do not have to file itr .

 

[deep@vie]

Income below 3L (new tax regime) do not have to file itr .

@praful47 Faizal bhai, aapka to Sara dhandha cash me hota hai na😂

 

[deep@vie]

Income below 3L (new tax regime) do not have to file itr .

Yes, people think even if their income is 7l, they don't need to file

 

[praful1947]

@praful47 Faizal bhai, aapka to Sara dhandha cash me hota hai na😂

Haaa .. kyu ki ramadhir account freeze karwa deta hai .

 

[Ak Singh]

If I have STCG (short term capital gain) more than 1 lakh and my income is 5 lakh. Would I have to file itr?

Can I do offset like book STCL( short term capital loss) with STCG(short term capital gain) and bring down to 1lac and don't file itr?
Will this reported in AIS if I don't file itr?

 

[doraemon]

We should not be condoning and helping tax evasion. OP should declare the income and pay requisite tax on it. Whether he does or not, the forum should not help him evade tax and in fact such questions should be banned.

bhai chori ka paisa nahi hai
mehnat ka hai.aur itr bharte hai
aur rahu baat forum ki to bhai cash rakhna aur deposit karna gunah to h nahi

banned ki baat rahi to wo mod dekhlenge
aapko kasht ki jarurat nahi hai


sabka apna trika hai

 

[imdjay]

bhai chori ka paisa nahi hai
mehnat ka hai.aur itr bharte hai
aur rahu baat forum ki to bhai cash rakhna aur deposit karna gunah to h nahi

banned ki baat rahi to wo mod dekhlenge
aapko kasht ki jarurat nahi hai


sabka apna trika hai

Just ignore that guy. I do the same.
He lives in his own world, making assumptions about everything.

 

[dealminer]

Hey people
We are purchasing a shop costing 20 lakhs
We have cash and want to deposit that in bank account for cheque issue purpose


How can I deposit in such a way it doesn't not attract tax or it department attention


I have 13 accounts
Can I deposit 49k in each of them?

Need your inputs in this

Dora mauke pe chauka maar dena chahie

Wealth account khol do 20L fek kr marna 😆
Then cashout kr dena

Add 14th account to your arsenal!

 

[taxbabaji]

Nahi aaya Bhai
I deposit 25lakh cash in diffrent diffrent banks nothing happened

bhai dimag to shi hai na kisi CA say puch lena tha km say km assesment year may AIS ka aata hai notice chahay 49 k karkay 20 account may dalo tab bhi mtlab is year ka cash deposit ka notice AIS ka 2025 kay dec may aayega abhi kay abhi CA kay pass Jao Bhai plese baad may bahut dikkat ho jayegi

 

[Sahil_07]

You are absolutely fine with your strategy of 49k each time into each account … no need to worry..
You only have 20L…

Are these 13 different accounts from 13 different banks ? If so fine.. if not also it's okay.
the rule is if you deposit cash into SB accounts of a single bank for more than 10L during a financial year then it will be reported in SFT section of AIS..

Just make sure you don’t deposit exactly the same amount.. just mix them up like 47.5 k, 48.2k, 49.3k etc ….

Just for you reference these are the different cash transactions that can get IT attention…

View attachment 44683

Complete Guide on How to File Income Tax Returns - ICICI BANK

Filing your yearly income tax return can be a little challenging. Follow our complete guide to ensure that you do not make a mistake while filing your Income Tax Returns (ITR).

www.icicibank.com

Does self transfer from different bank accounts count as deposit?
Also if I have 2 savings account in a bank,so 10 lakh is the limit for both the accounts or 10 lakh combined?

(*I generally do self transfer from other bank accounts to Sbi for cc bill payment with debit card, that's why asking)

 

[dealminer]

Does self transfer from different bank accounts count as deposit?
Also if I have 2 savings account in a bank,so 10 lakh is the limit for both the accounts or 10 lakh combined?

(*I generally do self transfer from other bank accounts to Sbi for cc bill payment with debit card, that's why asking)

Not for same pan card

 

[Wealth is my birth right!]

If I have STCG (short term capital gain) more than 1 lakh and my income is 5 lakh. Would I have to file itr?

Can I do offset like book STCL( short term capital loss) with STCG(short term capital gain) and bring down to 1lac and don't file itr?
Will this reported in AIS if I don't file itr?

Got to spoke with my CA this morning on my ITR filing and just asked him these questions
A. STCG is not salary I mean no exemption till 7lac whereas FD interest is considered
B. Not only this year almost 7 or 8 next yr u can offset stcl with stcg but not vice versa
C. Irrespective of ais you have to file itr2 since stcg there else it will invite a notice even after 5 years
I not only asked for u it’s just a colleague of mine in similar situation
Thanks