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Rs 10 lakh

Banks will now tell Income Tax Department if you deposit more than Rs 10 lakh in a year

Banks will now tell Income Tax Department if you deposit more than Rs 10 lakh in a year

Thu, Jan 19, 2017

The tax department has asked banks to report deposits in any account aggregating Rs 10 lakh in a year, as well as cash payments of Rs 1 lakh or more on credit card bills.

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