July 18, 2017 6:02 PM

printer

Over 36 lakh bank accounts saw cash deposit of Rs 10 lakh or more: Gangwar

Over 36 lakh bank accounts have seen cash deposits of 10 lakh rupees or more in a financial year. <br/><br/>Minister of State for Finance Santosh Kumar Gangwar said this in a written reply in Rajya Sabha today. He said, as per the amended Income Tax Rules, banks, including cooperative banks, have to report to tax authorities cash deposits aggregating to 10 lakh rupees or more in a financial year, other than a current account and time deposit of a person. <br/><br/>Mr Gangwar said, total number of bank accounts with cash deposits aggregating to ten lakh rupees or more in a financial year in one or more accounts is 36 lakh six thousand, as on 14th of this month.

Most Read
View All arrow-right

No posts found.