Deposits up to Rs. 2,50,000 have not been given any blanket tax-free status. Only such deposits will not be reported to the Income-tax Department by banks/post offices. The Law At Present: The regular threshold exemption limit for individuals (other than resident senior citizens and super-senior citizens) is Rs. 2,50,000. If the individual is a resident [...]The post Is Cash Deposit up to 2.50 Lacs tax free? appeared first on Chartered Accountant and Consulting Services in Chennai.
