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Here\u0026rsquo;s what you need to know:","articleSection":"","articleBody":"Depositing large amounts of cash into your bank account?Depositing large amounts of cash into your bank account?While there are no restrictions on depositing or withdrawing large amounts through cheques or online transactions, cash deposits and withdrawals at a bank branch do have limits.How much money can you keep in your account?Hiding Pre-Existing ConditionsOne of the biggest mistakes is not disclosing pre-existing conditions, family medical history, or habits like smoking or drinking.\u0026nbsp;How much cash can you deposit?If you deposit Rs 50,000 or more in cash, you must provide your PAN number. You can deposit up to Rs 1 lakh in cash per day. If you don\u0026rsquo;t make regular cash deposits, this limit can increase to Rs 2.50 lakh.Overall, you can deposit a maximum of Rs 10 lakh in cash into your account in a financial year, regardless of how many accounts you have.What happens if you exceed these limits?If you deposit more than Rs 10 lakh in cash in a financial year, the bank is required to report this to the Income Tax Department. You will need to explain the source of this income.Failure to provide satisfactory details can lead to an investigation by the Income Tax Department, and you could face significant penalties.Potential PenaltiesIf you deposit more than Rs 10 lakh in cash and cannot provide evidence of the source of the funds, you could face a tax of 60 per cent on the deposited amount, along with a 25 per cent surcharge and a 4 per cent cess.However, if you have proof of the source of your funds, you can deposit large amounts of cash without concernFor better returns, consider investing large sums in fixed deposits or other investment avenues rather than keeping them in a savings account.","keywords":"","name":"Depositing large amounts of cash into your bank account?","thumbnailUrl":"https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/cropped-15-2-150x150.jpg","mainEntity":{"@type":"WebPage","@id":"https://www.zeebiz.com/web-stories/personal-finance/depositing-large-amounts-of-cash-into-your-bank-account-8960"},"author":{"@type":"Person","name":"Priya Vishwakarma","url":"","sameAs":[],"image":{"@type":"ImageObject","url":"https://secure.gravatar.com/avatar/822d95e5ff5d7238f0a4ac7a59493b8c?s=96\u0026d=mm\u0026r=g","height":96,"width":96}},"editor":{"@type":"Person","name":"Priya Vishwakarma","url":"","sameAs":[],"image":{"@type":"ImageObject","url":"https://secure.gravatar.com/avatar/822d95e5ff5d7238f0a4ac7a59493b8c?s=96\u0026d=mm\u0026r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Zee Business","url":"https://www.zeebiz.com/webstories","logo":{"@type":"ImageObject","url":"https://www.zeebiz.com/webstories/wp-content/uploads/2023/11/zee_english_logo.png","width":"600","height":"60"}},"image":[{"@type":"ImageObject","@id":"https://www.zeebiz.com/web-stories/personal-finance/depositing-large-amounts-of-cash-into-your-bank-account-8960#primaryimage","url":"https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/cropped-15-2-1200x1599.jpg","width":"1200","height":"1599","caption":"15"},{"@type":"ImageObject","url":"https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/cropped-15-2-1200x900.jpg","width":"1200","height":"900","caption":"15"},{"@type":"ImageObject","url":"https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/cropped-15-2-1200x675.jpg","width":"1200","height":"675","caption":"15"}]},{"@context":"https://schema.org/","@type":"WebPage","name":"Depositing large amounts of cash into your bank account?","url":"https://www.zeebiz.com/web-stories/personal-finance/depositing-large-amounts-of-cash-into-your-bank-account-8960","lastReviewed":"2024-09-16T13:45:55+05:30","dateCreated":"2024-09-16T13:45:55+05:30","inLanguage":"en","description":"In India, individuals can hold multiple bank accounts simultaneously, but are there limits to how much money you can deposit or withdraw at one time? 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steps(1,end) 0s 1 normal both;animation:-amp-start 8s steps(1,end) 0s 1 normal both}@-webkit-keyframes -amp-start{from{visibility:hidden}to{visibility:visible}}@-moz-keyframes -amp-start{from{visibility:hidden}to{visibility:visible}}@-ms-keyframes -amp-start{from{visibility:hidden}to{visibility:visible}}@-o-keyframes -amp-start{from{visibility:hidden}to{visibility:visible}}@keyframes -amp-start{from{visibility:hidden}to{visibility:visible}}</style><noscript><style amp-boilerplate="">body{-webkit-animation:none;-moz-animation:none;-ms-animation:none;animation:none}</style></noscript></head><body><amp-story standalone="" publisher="Zee Business" publisher-logo-src="https://www.zeebiz.com/web-stories/wp-content/uploads/2023/11/cropped-cropped-zee_english_logo.png" title="Depositing large amounts of cash into your bank account?" poster-portrait-src="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/cropped-15-2.jpg" class="i-amphtml-layout-container" i-amphtml-layout="container"><amp-story-page id="1cc4430e-a29c-4b7e-8deb-a884b8b32e74" auto-advance-after="7s" class="i-amphtml-layout-container" i-amphtml-layout="container"><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="_dbf1ac0 page-fullbleed-area"><div class="page-safe-area"><div class="_6120891"><div class="_89d52dd mask" id="el-575ef47b-82c4-429b-ae67-5c911bc9aa81"><div data-leaf-element="true" class="_19971a1"><amp-img layout="fill" src="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/15-2.jpg" alt="15" srcset="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/15-2.jpg 1200w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/15-2-1024x768.jpg 1024w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/15-2-768x576.jpg 768w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/15-2-300x225.jpg 300w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/15-2-150x113.jpg 150w" sizes="(min-width: 1024px) 107vh, 238vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div></div></div></amp-story-grid-layer><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="page-fullbleed-area"><div class="page-safe-area"><div class="_9be48a2"><div id="el-f9c4347e-93cb-4847-8058-b91d727d89a4" class="_3659be3"><h1 class="_a6cfdf8 fill text-wrapper"><span><span class="_0442c7d">Depositing large amounts of cash into your bank account?</span></span></h1></div></div><div class="_5b48551"><div class="_89d52dd mask" id="el-f370fc47-ae97-45e4-b037-06465b1c885c"><div data-leaf-element="true" class="_9756237"><amp-img layout="fill" src="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png" alt="30-303835_zee-business-zee-business-channel-logo-png-clipart" srcset="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png 5717w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-2048x718.png 2048w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1536x538.png 1536w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1024x359.png 1024w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-768x269.png 768w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-300x105.png 300w" sizes="(min-width: 1024px) 11vh, 24vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div></div></div><div class="inner-align-end inner_align_end_1"><p class="author">Priya Vishwakarma</p><span class="src"> Sep 16,2024</span></div></amp-story-grid-layer></amp-story-page><amp-story-page id="4d8e42e2-590d-49d8-ac87-3d6a15bb0cf4" auto-advance-after="7s" class="i-amphtml-layout-container" i-amphtml-layout="container"><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="_ee2460a page-fullbleed-area"><div class="page-safe-area"><div class="_6120891"><div class="_89d52dd mask" id="el-5863d95f-3c7e-44dd-81cb-a93e44b0980b"><div data-leaf-element="true" class="_19971a1"><amp-img layout="fill" src="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/17-1.jpg" alt="17" srcset="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/17-1.jpg 1200w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/17-1-1024x768.jpg 1024w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/17-1-768x576.jpg 768w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/17-1-300x225.jpg 300w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/17-1-150x113.jpg 150w" sizes="(min-width: 1024px) 107vh, 238vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div></div></div></amp-story-grid-layer><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="page-fullbleed-area"><div class="page-safe-area"><div class="_0c22def"><div id="el-263157a1-643e-4bdc-a6c1-ce088c73931d" class="_530b38e"><p class="_0a26553 fill text-wrapper"><span><span class="_0442c7d">While there are no restrictions on depositing or withdrawing large amounts through cheques or online transactions, cash deposits and withdrawals at a bank branch do have limits.</span></span></p></div></div><div class="_5b48551"><div class="_89d52dd mask" id="el-c7c4183e-c3e8-4565-890c-4efd5a99a0d9"><div data-leaf-element="true" class="_9756237"><amp-img layout="fill" src="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png" alt="30-303835_zee-business-zee-business-channel-logo-png-clipart" srcset="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png 5717w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-2048x718.png 2048w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1536x538.png 1536w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1024x359.png 1024w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-768x269.png 768w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-300x105.png 300w" sizes="(min-width: 1024px) 11vh, 24vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div><div class="_e462c8e"><div id="el-a6722e66-4f9a-4be2-b36c-240915e41fc2" class="_659bfbb"><h2 class="_613c9c7 fill text-wrapper"><span>How much money can you keep in your account?</span></h2></div></div></div></div><div class="inner-align-end inner_align_end_2"><p class="author"></p><span class="src"> </span></div></amp-story-grid-layer></amp-story-page><amp-story-page id="56d444be-cfa2-480e-b694-4f5da98fd150" auto-advance-after="7s" class="i-amphtml-layout-container" i-amphtml-layout="container"><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="_2887dad page-fullbleed-area"><div class="page-safe-area"><div class="_6120891"><div class="_89d52dd mask" id="el-f7c982f4-e7f9-4963-b91c-cee7a1285780"><div data-leaf-element="true" class="_3cbaf9c"><amp-img layout="fill" src="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/image-48.png" alt="image" srcset="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/image-48.png 640w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/image-48-300x225.png 300w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/image-48-150x113.png 150w" sizes="(min-width: 1024px) 107vh, 237vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div></div></div></amp-story-grid-layer><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="page-fullbleed-area"><div class="page-safe-area"><div class="_a7e8b88"><div id="el-74aef585-7cf9-412a-97c2-16a5d9b0bb21" class="_8899bc9"><h2 class="_f0656b4 fill text-wrapper"><span><span class="_0442c7d">Hiding Pre-Existing Conditions</span></span></h2></div></div><div class="_5b48551"><div class="_89d52dd mask" id="el-74c0ee57-f0df-4c60-93b6-53f0807405cc"><div data-leaf-element="true" class="_9756237"><amp-img layout="fill" src="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png" alt="30-303835_zee-business-zee-business-channel-logo-png-clipart" srcset="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png 5717w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-2048x718.png 2048w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1536x538.png 1536w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1024x359.png 1024w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-768x269.png 768w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-300x105.png 300w" sizes="(min-width: 1024px) 11vh, 24vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div><div class="_3f6581a"><div id="el-f0abf49e-0bb3-4dee-ae29-7968f8fdab13" class="_c702cda"><p class="_0a26553 fill text-wrapper"><span><span class="_0442c7d">One of the biggest mistakes is not disclosing pre-existing conditions, family medical history, or habits like smoking or drinking.聽</span></span></p></div></div></div></div><div class="inner-align-end inner_align_end_3"><p class="author"></p><span class="src"> </span></div></amp-story-grid-layer></amp-story-page><amp-story-page id="94990bbc-c6c7-4269-b73d-86f3bb8314cf" auto-advance-after="7s" class="i-amphtml-layout-container" i-amphtml-layout="container"><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="_ed64da0 page-fullbleed-area"><div class="page-safe-area"><div class="_6120891"><div class="_89d52dd mask" id="el-70d6187a-d355-4845-bce4-4693003566e3"><div data-leaf-element="true" class="_9f38606"><amp-img layout="fill" src="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/money-5885629_1280.jpg" alt="money-5885629_1280" srcset="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/money-5885629_1280.jpg 1280w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/money-5885629_1280-1024x576.jpg 1024w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/money-5885629_1280-768x432.jpg 768w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/money-5885629_1280-300x169.jpg 300w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/money-5885629_1280-150x84.jpg 150w" sizes="(min-width: 1024px) 143vh, 317vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div></div></div></amp-story-grid-layer><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="page-fullbleed-area"><div class="page-safe-area"><div class="_a9728f1"><div id="el-08d07740-c16c-459f-ac13-8ba338990412" class="_8899bc9"><h2 class="_f0656b4 fill text-wrapper"><span><span class="_0442c7d">How much cash can you deposit?</span></span></h2></div></div><div class="_5b48551"><div class="_89d52dd mask" id="el-d0b5faa3-930f-43bb-b842-ac1d54b87e50"><div data-leaf-element="true" class="_9756237"><amp-img layout="fill" src="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png" alt="30-303835_zee-business-zee-business-channel-logo-png-clipart" srcset="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png 5717w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-2048x718.png 2048w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1536x538.png 1536w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1024x359.png 1024w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-768x269.png 768w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-300x105.png 300w" sizes="(min-width: 1024px) 11vh, 24vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div><div class="_1dd3183"><div id="el-37434dcd-6a06-4f37-83e1-e75fc1e49d07" class="_530b38e"><p class="_0a26553 fill text-wrapper"><span><span class="_0442c7d">If you deposit Rs 50,000 or more in cash, you must provide your PAN number. You can deposit up to Rs 1 lakh in cash per day. If you don鈥檛 make regular cash deposits, this limit can increase to Rs 2.50 lakh.</span></span></p></div></div></div></div><div class="inner-align-end inner_align_end_4"><p class="author"></p><span class="src"> </span></div></amp-story-grid-layer></amp-story-page><amp-story-page id="728764e1-3fa3-4211-b135-ad3c7a95c96b" auto-advance-after="7s" class="i-amphtml-layout-container" i-amphtml-layout="container"><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="_7d90574 page-fullbleed-area"><div class="page-safe-area"><div class="_6120891"><div class="_89d52dd mask" id="el-c4543e3e-758f-4ab3-89f6-960bde7e3f6d"><div data-leaf-element="true" class="_6d455e1"><amp-img layout="fill" src="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/money-2696228_1280-1.jpg" alt="money-2696228_1280" srcset="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/money-2696228_1280-1.jpg 1280w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/money-2696228_1280-1-1024x580.jpg 1024w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/money-2696228_1280-1-768x435.jpg 768w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/money-2696228_1280-1-300x170.jpg 300w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/money-2696228_1280-1-150x85.jpg 150w" sizes="(min-width: 1024px) 141vh, 314vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div></div></div></amp-story-grid-layer><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="page-fullbleed-area"><div class="page-safe-area"><div class="_2e5f24c"><div id="el-2bee4258-2f03-40da-976c-3b202dc9eac0" class="_c24d5a2"><h2 class="_f0656b4 fill text-wrapper"><span><span class="_0442c7d">Overall, you can deposit a maximum of Rs 10 lakh in cash into your account in a financial year, regardless of how many accounts you have.</span></span></h2></div></div><div class="_5b48551"><div class="_89d52dd mask" id="el-7d158f7b-6b2f-4ddc-b6c2-c6a83833a283"><div data-leaf-element="true" class="_9756237"><amp-img layout="fill" src="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png" alt="30-303835_zee-business-zee-business-channel-logo-png-clipart" srcset="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png 5717w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-2048x718.png 2048w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1536x538.png 1536w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1024x359.png 1024w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-768x269.png 768w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-300x105.png 300w" sizes="(min-width: 1024px) 11vh, 24vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div></div></div><div class="inner-align-end inner_align_end_5"><p class="author"></p><span class="src"> </span></div></amp-story-grid-layer></amp-story-page><amp-story-page id="a1e1cc9a-28da-4037-b392-b32b2254e206" auto-advance-after="7s" class="i-amphtml-layout-container" i-amphtml-layout="container"><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="_aad8474 page-fullbleed-area"><div class="page-safe-area"><div class="_6120891"><div class="_89d52dd mask" id="el-7d2fcb16-a22b-412d-93a5-2b241558ac53"><div data-leaf-element="true" class="_b8259f5"><amp-img layout="fill" src="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/money-7659421_1280.jpg" alt="money-7659421_1280" srcset="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/money-7659421_1280.jpg 1280w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/money-7659421_1280-1024x682.jpg 1024w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/money-7659421_1280-768x512.jpg 768w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/money-7659421_1280-300x200.jpg 300w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/money-7659421_1280-150x100.jpg 150w" sizes="(min-width: 1024px) 120vh, 267vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div></div></div></amp-story-grid-layer><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="page-fullbleed-area"><div class="page-safe-area"><div class="_daa59f6"><div id="el-ec99f233-7990-49cf-9641-12be9e9747e6" class="_8899bc9"><h2 class="_f0656b4 fill text-wrapper"><span><span class="_0442c7d">What happens if you exceed these limits?</span></span></h2></div></div><div class="_5b48551"><div class="_89d52dd mask" id="el-c682a577-d530-4117-b11d-693a3e693f70"><div data-leaf-element="true" class="_9756237"><amp-img layout="fill" src="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png" alt="30-303835_zee-business-zee-business-channel-logo-png-clipart" srcset="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png 5717w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-2048x718.png 2048w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1536x538.png 1536w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1024x359.png 1024w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-768x269.png 768w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-300x105.png 300w" sizes="(min-width: 1024px) 11vh, 24vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div><div class="_a1510bc"><div id="el-ea58e78f-eada-4600-9206-342071fb82a0" class="_d427ece"><p class="_0a26553 fill text-wrapper"><span><span class="_0442c7d">If you deposit more than Rs 10 lakh in cash in a financial year, the bank is required to report this to the Income Tax Department. You will need to explain the source of this income.</span></span></p></div></div></div></div><div class="inner-align-end inner_align_end_6"><p class="author"></p><span class="src"> </span></div></amp-story-grid-layer></amp-story-page><amp-story-page id="b4622656-65c2-4880-83e1-933cefae9be0" auto-advance-after="7s" class="i-amphtml-layout-container" i-amphtml-layout="container"><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="_6062317 page-fullbleed-area"><div class="page-safe-area"><div class="_6120891"><div class="_89d52dd mask" id="el-86f5e1d0-a680-4c20-9896-7832bd3f6877"><div data-leaf-element="true" class="_b8259f5"><amp-img layout="fill" src="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4398470_1280-1.jpg" alt="rupee-4398470_1280" srcset="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4398470_1280-1.jpg 1280w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4398470_1280-1-1024x682.jpg 1024w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4398470_1280-1-768x512.jpg 768w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4398470_1280-1-300x200.jpg 300w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4398470_1280-1-150x100.jpg 150w" sizes="(min-width: 1024px) 120vh, 267vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div></div></div></amp-story-grid-layer><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="page-fullbleed-area"><div class="page-safe-area"><div class="_2e5f24c"><div id="el-bae4cdeb-e111-456d-bf5f-c2a5ad707f7a" class="_c24d5a2"><h2 class="_f0656b4 fill text-wrapper"><span><span class="_0442c7d">Failure to provide satisfactory details can lead to an investigation by the Income Tax Department, and you could face significant penalties.</span></span></h2></div></div><div class="_5b48551"><div class="_89d52dd mask" id="el-5d8b1336-74af-4b49-8f9d-ef733669acb0"><div data-leaf-element="true" class="_9756237"><amp-img layout="fill" src="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png" alt="30-303835_zee-business-zee-business-channel-logo-png-clipart" srcset="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png 5717w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-2048x718.png 2048w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1536x538.png 1536w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1024x359.png 1024w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-768x269.png 768w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-300x105.png 300w" sizes="(min-width: 1024px) 11vh, 24vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div></div></div><div class="inner-align-end inner_align_end_7"><p class="author"></p><span class="src"> </span></div></amp-story-grid-layer></amp-story-page><amp-story-page id="d73881c3-b4d5-4c03-8684-b72d56685952" auto-advance-after="7s" class="i-amphtml-layout-container" i-amphtml-layout="container"><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="_d8eecd6 page-fullbleed-area"><div class="page-safe-area"><div class="_6120891"><div class="_89d52dd mask" id="el-a41f245c-6416-4d80-a1a9-d07178c04ebe"><div data-leaf-element="true" class="_f3f9e1d"><amp-img layout="fill" src="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4505213_1280-1.jpg" alt="rupee-4505213_1280" srcset="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4505213_1280-1.jpg 1280w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4505213_1280-1-1024x724.jpg 1024w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4505213_1280-1-768x543.jpg 768w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4505213_1280-1-300x212.jpg 300w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4505213_1280-1-150x106.jpg 150w" sizes="(min-width: 1024px) 113vh, 252vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div></div></div></amp-story-grid-layer><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="page-fullbleed-area"><div class="page-safe-area"><div class="_cbd7886"><div id="el-35e9e3bd-5574-46bf-9027-ebfe47c56f0d" class="_f61c25f"><h2 class="_f0656b4 fill text-wrapper"><span><span class="_0442c7d">Potential Penalties</span></span></h2></div></div><div class="_5b48551"><div class="_89d52dd mask" id="el-f1afe7e8-b41e-47e7-a7be-d3860bdb56bc"><div data-leaf-element="true" class="_9756237"><amp-img layout="fill" src="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png" alt="30-303835_zee-business-zee-business-channel-logo-png-clipart" srcset="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png 5717w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-2048x718.png 2048w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1536x538.png 1536w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1024x359.png 1024w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-768x269.png 768w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-300x105.png 300w" sizes="(min-width: 1024px) 11vh, 24vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div><div class="_3cd7fae"><div id="el-9e40891a-3a88-4287-bf3a-8c74a1130ac4" class="_530b38e"><p class="_0a26553 fill text-wrapper"><span><span class="_0442c7d">If you deposit more than Rs 10 lakh in cash and cannot provide evidence of the source of the funds, you could face a tax of 60 per cent on the deposited amount, along with a 25 per cent surcharge and a 4 per cent cess.</span></span></p></div></div></div></div><div class="inner-align-end inner_align_end_8"><p class="author"></p><span class="src"> </span></div></amp-story-grid-layer></amp-story-page><amp-story-page id="5f13d701-447e-4650-abd7-b26e3c33d266" auto-advance-after="7s" class="i-amphtml-layout-container" i-amphtml-layout="container"><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="_b4ed915 page-fullbleed-area"><div class="page-safe-area"><div class="_6120891"><div class="_89d52dd mask" id="el-7e45f28b-59fe-4484-ae81-10d6278f8a13"><div data-leaf-element="true" class="_9004f5d"><amp-img layout="fill" src="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4395480_1280-1.jpg" alt="rupee-4395480_1280" srcset="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4395480_1280-1.jpg 1280w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4395480_1280-1-1024x682.jpg 1024w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4395480_1280-1-768x512.jpg 768w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4395480_1280-1-300x200.jpg 300w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4395480_1280-1-150x100.jpg 150w" sizes="(min-width: 1024px) 120vh, 267vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div></div></div></amp-story-grid-layer><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="page-fullbleed-area"><div class="page-safe-area"><div class="_97de12b"><div id="el-bfa85fe6-5457-4b27-a107-65ed933bf4ea" class="_1a1cd4e"><h2 class="_f0656b4 fill text-wrapper"><span><span class="_0442c7d">However, if you have proof of the source of your funds, you can deposit large amounts of cash without concern</span></span></h2></div></div><div class="_5b48551"><div class="_89d52dd mask" id="el-80b6bc25-faff-471e-9664-3923c4f86e24"><div data-leaf-element="true" class="_9756237"><amp-img layout="fill" src="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png" alt="30-303835_zee-business-zee-business-channel-logo-png-clipart" srcset="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png 5717w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-2048x718.png 2048w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1536x538.png 1536w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1024x359.png 1024w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-768x269.png 768w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-300x105.png 300w" sizes="(min-width: 1024px) 11vh, 24vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div></div></div><div class="inner-align-end inner_align_end_9"><p class="author"></p><span class="src"> </span></div></amp-story-grid-layer></amp-story-page><amp-story-page id="e0a894b7-4343-4742-833c-8dcb32fbdba8" auto-advance-after="7s" class="i-amphtml-layout-container" i-amphtml-layout="container"><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="_037d1e7 page-fullbleed-area"><div class="page-safe-area"><div class="_6120891"><div class="_89d52dd mask" id="el-c8401672-846f-4990-b3e3-8934a487f899"><div data-leaf-element="true" class="_2a46b9b"><amp-img layout="fill" src="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4395521_1280-1.jpg" alt="rupee-4395521_1280" srcset="https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4395521_1280-1.jpg 1280w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4395521_1280-1-1024x682.jpg 1024w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4395521_1280-1-768x512.jpg 768w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4395521_1280-1-300x200.jpg 300w, https://www.zeebiz.com/web-stories/wp-content/uploads/2024/09/rupee-4395521_1280-1-150x100.jpg 150w" sizes="(min-width: 1024px) 120vh, 267vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div></div></div></amp-story-grid-layer><amp-story-grid-layer template="vertical" aspect-ratio="412:618" class="grid-layer i-amphtml-layout-container" i-amphtml-layout="container"><div class="page-fullbleed-area"><div class="page-safe-area"><div class="_2e5f24c"><div id="el-198982db-76c7-477b-9446-4b3c9f99cb80" class="_c24d5a2"><h2 class="_f0656b4 fill text-wrapper"><span><span class="_0442c7d">For better returns, consider investing large sums in fixed deposits or other investment avenues rather than keeping them in a savings account.</span></span></h2></div></div><div class="_5b48551"><div class="_89d52dd mask" id="el-b98244d1-1c7c-4a98-96b1-1ce4379c8ea9"><div data-leaf-element="true" class="_9756237"><amp-img layout="fill" src="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png" alt="30-303835_zee-business-zee-business-channel-logo-png-clipart" srcset="https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart.png 5717w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-2048x718.png 2048w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1536x538.png 1536w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-1024x359.png 1024w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-768x269.png 768w, https://www.zeebiz.com/webstories/wp-content/uploads/2023/09/30-303835_zee-business-zee-business-channel-logo-png-clipart-300x105.png 300w" sizes="(min-width: 1024px) 11vh, 24vw" disable-inline-width="true" class="i-amphtml-layout-fill i-amphtml-layout-size-defined" i-amphtml-layout="fill"></amp-img></div></div></div></div></div><div class="inner-align-end inner_align_end_10"><p class="author"></p><span class="src"> </span></div></amp-story-grid-layer></amp-story-page> <amp-analytics type="comscore" class="i-amphtml-layout-fixed i-amphtml-layout-size-defined" style="width:1px;height:1px" i-amphtml-layout="fixed"> <script type="application/json">{"vars":{"c2":"9254297"},"extraUrlParams":{"comscorekw":"amp"}}</script> </amp-analytics><amp-analytics type="gtag" data-credentials="include" class="i-amphtml-layout-fixed i-amphtml-layout-size-defined" style="width:1px;height:1px" i-amphtml-layout="fixed"><script type="application/json">{"vars":{"gtag_id":"G-R8LX0XV7FH","hash":"$REPLACE($REPLACE(${pageViewId64},-,),_,)","ppid":"$TOLOWERCASE($SUBSTR(${hash},0,4)-$SUBSTR(${hash},4,4)-$SUBSTR(${hash},8,4)-$SUBSTR(${hash},12,4)-$SUBSTR(${hash},16,2))","config":{"G-R8LX0XV7FH":{"groups":"default","author_name":"Priya Vishwakarma","section_name":"Personal Finance","publish_date":"16 Sep 2024 01:45 PM","story_url":"http://www.www.zeebiz.com/web-stories/personal-finance/depositing-large-amounts-of-cash-into-your-bank-account-8960","post_id":"8960","news_platform":"Webstory","Client_ID_es":"${clientId}.","Client_ID_us":"${clientId}.","PPID":"${ppid}","PPID_es":"${ppid}"}}}}</script></amp-analytics> <amp-story-auto-analytics gtag-id="UA-75361766-1" class="i-amphtml-layout-container" i-amphtml-layout="container"></amp-story-auto-analytics> <amp-story-social-share layout="nodisplay" class="i-amphtml-layout-nodisplay" hidden="hidden" 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