Assess cash deposits transactions and withdrawals transactions any limit for bank sb and current account one finicial year .
There is no limit specified for cash withdrawal.
However, limits are fixed for the utilization of cash. Further in annual filings of the bank, you may have to provide a reason for large cash withdrawals.
Every year, one should login to Income Tax website and visit compliance portal to check cash withdrawal page. Information of withdrawals is given here and you may have to give reason for withdrawals.
Sign up to discuss taxation, accounting and finance topics with experts from all over India.
Not a member? Register
Sign in with google