Summary: A ₹50 lakh cash deposit in a bank account can attract tax scrutiny because cash deposits above prescribed thresholds ...

Granting further relief in view of the pandemic, provisions of Section 269ST of Income-Tax Act, 1961 have been relaxed by the Central government, allowing hospitals and other medical facilities ...

Have you ever wondered how much cash you can keep in your savings account without triggering an Income Tax notice? This is a common concern for many individuals. According to income tax rules, the ...

Income Tax Act restricts any person to receive an amount of two lakh rupees or more in cash, from a person in a day, in respect of a single transaction or in respect of transactions relating to one ...

In a big relief to NBFCs (non-banking finance compaines) and HFCs (housing finance companies), the Income-Tax Department has come out with a clarification on the transactions that will fall under the ...