Bank Transaction Limits for Income Tax on Cash and UPI payments
Вставка
- Опубліковано 24 лип 2024
- I have discussed about the limits of banking transaction for Income Tax notices, If any person remains careful about the limits of banking transaction, then he/she can avoid income tax notice to much extends.
Topics covers under this video are :
00:00 Introduction of Banking transaction limits for Income Tax
00:21 Where income tax department get information about banking txns.
01:27 Cash deposit and withdrawal limit for income tax depts
01:42 source of information for this video
02:36 general limit of 10 lakhs for cash deposit and withdrawal
04:29 unexplained cash deposit
05:15 20000 cash deposit limits on loan accounts
05:59 100000 Cash deposit limits in credit card bill payment
06:27 how much balance in bank account do not attract it notice
07:32 TDS on cash withdrawal above 20 lakhs
09:30 income tax on upi transactions
12:44 GST is required for more than 40 lakhs transaction in Bank Account
Murari Garg
9717550964( Whatsapp)
#incometaxnotice #bankingtransactionlimit #incometaxonupi #tdsoncashwithdrawal #banktransactionlimit - Навчання та стиль
![Income Tax Calculation Examples between ₹4 Lacs to ₹20 Lacs [SOLVED]](/img/n.gif)
मुरारी साहब आपके वीडियो बहुत ही उपयोगी और जानकारी से भरपूर होते हैं! मैं तो कहना चाहता हूं कि आप जैसे मार्गदर्शक और सलाहकार का एक पद हर बैंक की ब्रांच में बनाया जाना चाहिए जहां जाकर ग्राहक कुछ फीस देकर (बैंक शेयर लोन प्रॉपर्टी तथा म्यूच्यूअल फंड) जैसे विषयों पर जानकारी प्राप्त कर पाए !! फीस इसलिए क्योंकि बैंक के सामान्य कर्मचारियों को अपने काम के अलावा बहुत कम जानकारी होती है और ना ही वह ग्राहक से ठीक तरह बात करते हैं !! 🙏🙏
pls share my video in your whatsapp groups.
😭😭😭😭 sir aapka video dekh k mujhe mere pyaare school k techers ki yaad aagai ✌️✌️✌️👍
सर आपने हमे बहोतही महत्वपूर्ण बँक व्यवहारो की जानकारी दि 👍
आपका बहोत धन्यवाद ऐसी ही सरल भाषा में समझ आनेवाले व्हिडीओ से हमे मार्गदर्शन किजीए 🙏
pls share my videos in your whatsapp groups.
बहुत महत्वपूर्ण जाणकारी. धन्यवाद.
pls share my video in your whatsapp groups.
One basic question.. Being alive in INdia is legal or illegal ?
Nops..I don't think so
😅
Good Question 😂
No problem if you are an honest tax payer thereby helping the nation- building.
😅
अच्छा विश्लेषण।👌👌👌 धन्यवाद।
please share my video in your whatsapp groups..
Very nicely explained by you
Thank you sir
Jay Hind
Agar aap ye video dekh rahe hai, to chances hai... ke aapke paas.. income tax ka notice aa jaye, bhari penalties ke saath. 😁 Great video by the way.
Awesome 👍
Kind information shared, thank you 🙏💐💞
please share my video in your whatsapp groups..
Bank manager ho to is tarah ka jo ki apne customer ka care kare nice sir
Very good information, all basic but important
pls share my video in your whatsapp groups...
sir good explanation...please tell us about NRO & NRI account transaction limit details.Thank you..
Thanks for your explanation 💘
please share my video in your whatsapp groups..
In case any one sale his land or property and have taken entire selling value by cheque.
Person has presently senior citizens and took payment in two name i,e owner and his wife 50:50 ratio then what amount both of them are liable to pay income tax .
Catch is here :- after selling land owner is allowed 2 financial year (maximum) to utilise same amount for buying land or flat and top of that upgradation of flat or land are also allowed.
Hence , what will be tax assessment year so that he can show his income and expenditure on that land selling appreciation amount.
Thank you very much for the information sir we kindly request you to highlight regularly update your information to many citizens who needs awareness so there totally depend upon the chartered accountant thank you very much Jai Hind
pls share my videos in your whatsapp groups..
@@connecting_dots_Loan whatsapp number dijiye na please sir
An informative video 🙏🙏 Thank you so much 🙏🙏🙏🙏
please share my videos in your whatsapp groups.
Useful video that could help many to be better informed about their financial dealings, covering many avenues available for such transactions today.
pls share it in your whatsapp groups..
Only kaam ki baat thanks sir
Very nice sir BAHUT ACCHE SE SAMJHAYA AAPNE SIRJI VERY GOOD
pls share my videos in your whatsapp groups..
Good knowledge... thanks for sharing this information for us..
अगर आपको मेरे वीडियो अच्छा लगा तो अपने व्हाट्सएप ग्रुप पर मेरा वीडियो शेयर करें ताकि यह जानकारी ज्यादा से ज्यादा लोगों तक पहुंच पाए
good explanation thanks sir for the subtitles easy to understand
pls share it in your whatsapp groups
nice info and in depth explained
Pls share my video in your whatsApp groups
Very nice video.
Durbhagya ye hai ajj kal 2 lak tak ke transaction mai hota kya hai. Yearly kam se kam 5 lak allowed hona chaiye. Ye chor income tax to ghatatey nahi lekin humarey paise par humse hi wasooltey hai. Legalised mafia hai ye. Stock market ko bhi barbad kar diya dushto ne. Anyways good work.
And try to explain cash limit for senior citizens on all what you explained in this video.
If someone stops itr long back due to non taxable income then what they should do on sudden receipt of income.
just file when you have taxable income
Good explanation.
Thanks
So nice of you
Helpful information sir 👌💯
pls share my videos in your whatsapp groups..
Sir, Good topic you choosed today, for clarification point of view I would like to share the the penalties for cash transactions 1) in case someone receives loan/Advances in cash of ₹2 Lk or more and violates the provisions of sec. 269SS of the IT Act then the penalty imposed u/s. 271D of the IT Act is equal to the amount of loan/advances received in the form of cash. 2) in case someone made repayment of loan/Advances in cash of ₹2 Lk or more and violates the provisions of sec. 269T of the IT Act then the penalty imposed u/s. 271E of the IT Act is equal to the amount of loan/advances received in the form of cash.
Thanks for your useful information.
Killing nbn
O
Sir agar kisi current account mein ek baar mein 2 lakh se jyada pfms ke dwara Paisa aata hai to kya us par GST lag sakta hai ?
Sir main cradit card ki payment nai kar pa rha hun lekin mare a/c se paice kat jate kea Karu mare Jo be paice ate h kat jate h lekin maine auto debit band kar diat h
Great information sir ji 🙏
pls share my video in your whatsapp groups.
Sir, namaskar, I am center government pensioner. Please let me know, for own HOUSE construction I am paying money to all concern by Google pay (upi). Is there any limit for upi payment. Please guide me.
So many restrictions, collecting tax
But is same person IP
No govt, no bank , no incometax department
Give money to survive.
This is really not acceptable.
All ca, bankers have to find solutions to those persons.
What is this IP ?
Thank you sir,very good imformation ?
अगर आपको मेरे वीडियो अच्छा लगा तो अपने व्हाट्सएप ग्रुप पर मेरा वीडियो शेयर करें ताकि यह जानकारी ज्यादा से ज्यादा लोगों तक पहुंच पाए
Sir , Really Much More USEFUL Information Given by You About ITR and Various Kind of Financial Transanctions . I Appreciate Your Work Always . I Liked Information 🙏
pls share my videos in your whatsapp groups..
Please make a video on GST for freelancer
Super hai bhai thanks
pls share my videos in your whatsapp groups, so other can gets benefits
Agar ye transactions sare online ho to uspe kya rules hai.....??plzz reply mtlb cash withdrawal ya cash deposit na ho?
Sir I am an govt employee. I used to apply for IPOs in share market through Yono lite app from 3 savings accounts (mine,wife & father) I have more than 10 demate account including my friends demate account. Whenever a new ipo announces i do many txn through all of my accounts as i have to borrow a huge amount from my friends to apply in ipo eg. 15k per demate accounts and vice versa ( have to return to the amount to the friends after ipo) ....in a nut sel my net txn is almost nil from all accounts but my total txns throughout the year is more than 10L....so in this whole scenario can there be any problem..?
consult with some good, chartered accountant,
Same issue here bro
Sir i have small shop to run and i have saving account and i received UPI payment through Paytm business account which is linked to my savings account and on an average my turnover would be 1200000 then should i be required to file ITR please answer me sir it is very urgent
you should file ITE with NIL tax liability....it will help in near future to take loan
Sir please tell that can we consider income from fd interest for loan??
Thank you so much sir ji
pls share my video in your whatsapp groups.
Sbi simply credit card information video banav sir
Total mpre 50lac is it also applicable for Salaried Employees who have more than 40 lac income after taxes?
yes, but IT dept also cross check your bank account summation with actual itr you have filed....
Sir, Thanks for the information
please share my videos in your whatsapp groups.
Achchha sir ye bataiye agr ham tex nhin bharte hai or agr ham apna hi bank se 10 Lakh.... Apne dusre bank me paise us bank me transfer kren or kya esse koi dikkat hogi kya....
Sir mere pas actual 60k rupee h but main unko apne ek account se dusre account main transfer krta rahta hu. Es trah 1 financial year main 20lakh ka transaction ho jata h. Kisi dusre k account se paisa nhi aata sirf mere 4-5 account main edhar udhar krta rahta hu. Cash 1 bhi rupya nhi dalta. Kya koi problem hogi main itr file nhi krta.
Credit card se bhi rent payment k through paisa apne account main leta hua phir usse hi payment kr deta h. 5-6 credit card ka mila k 1 year main 4-5lakh k transaction krdeta hu jisme 60-80k ki shopping bhi shamil h jo kisi dusre bande ko karwata hu uska payment bhi wo hi krta h.
Aise koi problem nahi hota kyu ki IT wale Puri jankari ke sath notice dete hai jo unko illegal lage koi problem nahi hai main to last 2 saal se 50 Lakh+ ki transaction karta hu ek saal me fir bhi koi problem nahi hui hai
@@rahulej58 bina itr bhare ??
@@sonamkaur3120 yes
Sir ji, mera ek question tha...agar app mutual fund and policy mein investment kar rahe ho, aur apko maturity ke baad sare investments ki returns aati hai...woh toh tax deduct hoke hi aati hai..but apke savings account mein balance kafi zyada dikhayega...toh us case mein income tax ka notice toh nai ayega na ?
Sir please kuch reply dijiye mere question pe...
Simply show all transaction in a incometax filing, (accoountnant can colllect around 500/- to 1000/- to file comolecated transactions.
Future and option trading mein agar 500-600 amount earn ki ho, kya phir bhi itr bharni padegi
Thanks for
giving information
pls share my videos in your whatsapp groups..
Sir , Trading related tax information
Sir please rply saving aacount 0 balanve with full kyc or regular saving account (Monthly avrage balance maintain) konsa sahi rahega fixed deposits rkhnebk liye?
dono same hai
Very well explained Sir
PLS SHARE MY VIDEO IN YOUR WHATSAP GROUPS..
Sir ,I'm working for someone and doing regular transaction via online banking on my savings account,i receive money regularly, my income from it is only some percentage i.e commission...what are the implications
stop doing this, otherwise you might be in trouble
👍👍👍
Amazing information sir ty
Please share my videos in your WhatsApp groups
Sir Mere Bank A/c me 2022-23 ke bich abhi tak 371592₹ cash resive hua h or 433000₹ send kia h kuch UPI se or kuch cash withdraw kia h deposit or withdraw Mila kr turnover 804592₹ ho rha h to kya me or transaction kr sakta hun ?
I'm a regular bank customer with normal saving account. I do not pay income tax (since I am unemployed).
But for some purpose, now i have to transfer nearly 50 lakhs to another account.
How can I do it without paying any tax?
file the income tax return or you may be in trouble
source of funds and purpose of transfer must be disclosed in ITR ....or you'll end up paying heavy penalty
@@davelawson2564 hlo
@@davelawson2564bhai kuch notice aaya tha
Sir if i do lot of upi transactions in 15 to 30 lacks between my own saving accounts from different banks do i face any problem. While my original bank balance is some thousands which i transfer between my own account for upi cash back. Plz sir reply
Thank you
you may face problem, keeps statement of all your account to proof geniuses of txns.
if its biz transactions then get current account and file ITR ....or you'll end up with heavy penalty
Hlo bro hua kuch?
Aapka koi notice aya income tax taraf se
Sir yadi saving account se 1500000 fd banaye hai toh koi dikkat hogi yadi itr file nahi karte ho
Tq ser good information
pls share my videos in your whatsapp groups
Thank you Sir. More helpfull to us. Could you please make a video regarding GST refund case? If possible, please Sir... sincerely yours... Tkbanerjee.
pls share my videos in your whatsapp groups..
i will try to make
Sir gud eveng one plZZ Do a video regarding crypto P2P trade bank freeze unfreeze sollution where to trade details plZZ hlp to unfreeze accounts
Dear sir mera SBI me personal current account hain
Or me csc centre chalata hu aeps
Or online transaction bhe hoti rehti hain mere account me online deposit hota hain or me bank se cash le aata hu
Mene 15lakh apne current account se nikaal liya kya income tax notice aa sakta hain
Sir self transfer aur family transfer karne me kya lagega
why not ask when credited more. salary for once
Excuse me sir cash withdrawal limit for single financial year is 20 lakh not 10 lakh ?
What's the limit for Saving account cash deposit and cash withdrawal ?
Is wallet amount also calculated?
Lovely ecplained...
pls share my videos in your whatsapp groups
Sir udi koi company ko security money
Deta hai fir company 5 sal bad return korta hai to tax nahi lagna chaye?
Means hum account band hi krwa dete hai
Dear sir I have 5 credit cards from different accounts and transacted 2-3 lac from each card till now can u make a video on cc usage i am student and not filing itr yet ..
stop doing illegal activities
@@connecting_dots_Loan ok sir
Online merchant se agar paisa receive hota hai to uske liye kya prawdhan hai kitna tk le skte hai?
Sir mere chacha ke ladke ne and mere bhaiya ne mere acont se 20 lakh ka len den kar liya karib 4 /5 month me bo thekedari karte he unke accont me kuchh problem arhi thee len den nahi kar pa rahe the to unhone mujhse acont manga mene de diya kah rahe the bo ki mujhe levar ka parment dene me problam arhi he to me nahi janta tha to mene acont no..de diya tha ab sir mujhe batao mujhe gst deni padegi kya to me unka kitna %pese rokkar rakhu acont me plz sir help me
Hello Sir,
Last year I got a notice IT Department on 29th March 2022, for cash payment against credit card bills, however I have not done any cash payment against any of my credit card in previous financial year.
I have consulted a CA, and accordingly he had replied for the notice.
Hope will not get any problem in future, we have filed ITR-4 of 5L every year
Kindly advice 🙏
best of luck
IT dept so lazy that it will not see whether the ITR is submitted by a senior citizen or ordinary citizen. It sends notice n we have to struggle to cancel the notice. There should be some punishment for such lazy officials. But who will do that!
Hello sir
Superb video very useful ........
I have a question for you sir
What's the limit for RTGS or any internet transfer to our account from another account???
How much balance can we keep in our savings bank account ???
there is not limit for RTGS
You can keep any amount in your saving bank account
pls share my videos in your whatsapp groups..
@@connecting_dots_Loan sure sir
@@connecting_dots_Loan Does this apply to every bank including nationalized banks ???
yes
Sir loan bh kai tarah ke hote hai kaun se loan me cash nahi lena h
Sir I have transfering others money in my 10k Savings account by phonepe due to they are uneducated
What's happened if it cross 10-12 lakh a financial year
Sir,
If Yearly Gross Income Will be Continuously below than 20 Lacs per annum in a GST registered business, then what happened ?
You have not covered the physical limit of UPI payment / receipt for individuals maintaining only SB account. Particularly, for Sr Citizens operating from home without need to withdraw heavy cash.
It means we don't have to save money , we have to expend more and more in stuffs so that gdp grows.
Sir mera kaam AEPS adhaar CSP ka hai mene current account open karwaya hai kya mai waha se UPI Transaction kr skta hun?
Dear Sir, Kindly Provide all your topics in English. It would be helpful for us.
Angrage ka bacha hai kya
Good suggestion Rajesh
Angrej ka khoda hai
Instead why can't cash be banned
Good information sir ♥️
pls share my videos in your whatsapp groups.
Very nice explained ❤
pls share my video in your whatsapp groups..
Thanks for the information sir. At 3:10 you have talked about transactions. In case I got 2L+ amount from X and later transferring to Y. Then what will be the scenario? Can I do such transactions?
आपको इनकम टैक्स डिपार्टमेंट को बताना होगा कि पैसा आपके पास क्यों आए और फिर ये बताना होगा ये पैसा आपने किसी और को क्यों ट्रांसफर किया इनका पर्पस आपको बताना पड़ेगा अगर आपको इनको कानूनी तौर पर दिखाना है तो
@@connecting_dots_Loan dhanyawad sir reply k liye🙏 or in case transaction 2L se kam ki hai toh? Ussh case mai kya hoga? Mera salary/Saving account hai
2 lakh se kam ke txn mein tension lene ki jaroorat nahi hai
Always make a transaction in instalments of 1lacand 99 thousand.😁
@@vijaybhat7571 but limit is 10L uss k baad justification Dena hoga
Sir mera sbi me 1500000 lekh ka Fd hai jiska 7.35% hai muchrity date hai 19 2 2024 lekin agar me use abhi tode to kitna milega or kitna nuksan ho sakta hai jarur bataye please
Thank u sir good info
pls share my videos in your whatsapp groups..
Politicians handle crores of Rs 2000 bundles day to day basis . Is Inc tax dept not aware of it? Do they send notice?
It's all exempted for all netas... Rules are only for general public..
Cash deposit means cash deposit.
Sir maine only25k withdraw+deposit mila ke din me 24 times sirf 25k ko hi gumaya hai ya mere dost kr aur mere bank account me yani 6lakh. to aisa hme 4 bar kiya hai mtlb 24 lakh ke transaction hui hai. Wo bhi ek hi mahine mai to kya muze income tax ki notice aa sakti hai ki nahi
Thank you sir.
please share my video in your whatsapp groups.
Income tax deptt should not poke it's nose on withdrawals. Money belongs to account holder and he is free to withdraw his own money. People do spend money on tours ,marriage functions and income tax deptt has no right to bother people over spendings. And honest tax payers spend only after breaking TDRs and in such cases bothering tax payer will be too irritating.
rightly said
yaa atleast cash limit badana chhiya kitna saal sa 10lakh hi h
sir I won 20 lakhs on dream11 and they give me 14 lakhs after 30 % tax deduction.. can I withdraw all 14 lakhs without any tax ?
Tax will be deducted if you withdraw more than 20 lakhs in a financial year
If you have tax paid receipt , then no further tax is required.
@@davelawson2564 thank you sir
14 lacks mile proof dikao ?
ITR file submit kero usme show kero ye 20 lakh TDS deducted refund ho jayegaa
Online netbaning s transtion hui h bss ise to kya muje kuch problem hogi....??
Thanks.
I am citizen of India.I have great respect for government of India.I am income tax payee.Why should I afraid?We should file ITR.We will make an India.Great respect for Narendra Modi ji
Andh bhakt. Chai wale ne duniya bhar k tax lagaye, mahegai asman Chu ri. Petrol gas kaha gaye. Tum jaise andh bhakt sudhrege nhi
Very good
Our govt under dynamic PM Modi is collecting huge tax for nation building, helping poor ,raising them from poverty, defence build up.
Huge money go into salaries pension,pay and perks of netas, Sarkari babu etc.
Sab itr bharegaa agar tax sirf 2-3 % maximum rakha jayee for income above 5 laks ...lekin 10% ,20% ,30% tax itnaa shoshann public kaa toh angress ney bhi nhi kiyaa ..ek toh GST tax upar sey income mey bhi tax ...itnaa sara tax public ka adhaa paisaa khaa jataa heyy ...
after salary stop its not require
ek info video hum boodhon (seniors) kay liye bhi banaye. 🙏
Sir mujhe sbi ke account me 100000 ki lemit keshe banbaye
भारत सरकार को ईमानदारी से कमानेवाले लोगों के प्रति कोई मान नहीं है, 40% तक सिर्फ आवकवेरा वसूल करने वाली सरकार ने चाणक्य नीति जरूर पढ़नी चाहिए, इतना भारी कर तो सिर्फ मुस्लिम राजा हिन्दू व्यापारी पर लगाते थे
Right
BJP Arun jaitely introduced GST in July 2017. This is trouble givers
Better to CONSULT C.A.
😢