One Reply to “I want to know if any tax will be levied for depositing 3lacs in a savings account?”

  1. Tax is not levied for depositing money in a savings account. Be it 3 lakhs or more.

    You need a PAN.

    Cash deposits aggregating to ten lakh rupees or more in a year in any savings account, need to be reported in ITR.

    HMT





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