Can I deposit 2 lakhs in my account without PAN card?
With effect from 1 January 2016, you would have to furnish your Permanent Account Number (PAN) for all transactions above Rs 2 lakhs, irrespective of the mode of payment adopted. Considering the representations, PAN will be required for transactions of an amount exceeding Rs 2 lakh regardless of the mode of payment.”
How much money can you have in a single bank account?
The bank you work with manages the accounts on your behalf, making sure no one account holds more than the $250,000 limit.
Can I deposit 2 lakh cash in my SBI account?
CASH DEPOSIT – BANK BRANCH Maximum cash deposit limit: While there is no limit on the amount of cash deposit made in a home branch, the maximum limit for cash deposit at a non home branch is Rs 2 lakh per day.
What is the maximum amount I can deposit without a PAN card?
Deposits in a bank can be in form of Cash or Cheque. Without PAN card you can cash deposit upto Rs. 49,999/- in your savings bank account on a single day. This restriction is basically to put a check on the unaccounted cash being deposited in the Bank A/cs.
Do I need a PAN card to deposit cash in bank?
It is only for deposit of cash in bank account that you need a to have a PAN in case the amount exceeds Rs. 50,000/- at a time. However there is no restriction for depositing any amount by cheque.
How can I deposit 50k cash in self account without PAN card?
You mean without a PAN card at all – or without a PAN card on ones person. It is enough to quote the PAN number. If you dont have a PAN Number at all – then Form 60 can be filled and a person can deposit upto Rs. 50K cash in a single day in self account.
How much cash can you deposit in a bank account?
If you deposit more than $10,000 cash in your bank account, your bank has to report the deposit to the government. The guidelines for large cash transactions for banks and financial institutions are set by the Bank Secrecy Act, also known as the Currency and Foreign Transactions Reporting Act.
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