CASH DEPOSIT & WITHDRAWAL RULES: Breaking These Bank Rules Can Cost You a Big Fine!
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India's cash deposit & withdrawal rules limit cash transactions to prevent tax evasion and fraud. Deposits or withdrawals above ₹10 lakh must be reported to the Income Tax Department, while transactions exceeding ₹50 lakh are closely monitored. Violations can lead to heavy fines, account freezes, or legal action. To stay compliant, use digital payments, maintain proper records, and follow RBI guidelines.
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