The Income Tax Department has set cash deposit limits to monitor financial transactions in savings accounts, current accounts, and financial institutions. These measures help prevent money laundering, tax evasion, and other illegal activities.

Here are the key cash deposit limits in banks:

Annual Limit for Savings Accounts: Individuals can deposit up to ₹10 lakh in a financial year across one or multiple accounts. Deposits exceeding this amount are reported to the Income Tax Department.
Daily Cash Deposit Limit: The standard daily limit is ₹1 lakh. However, if you do not frequently deposit cash, the threshold may extend to ₹2.5 lakh.
PAN Requirement: Any cash deposit of ₹50,000 or more requires the depositor to provide their PAN.
Current Account Limits: Businesses operating current accounts can deposit up to ₹50 lakh in cash annually.
Higher Limits for Large Businesses: For manufacturers, large distributors, and service providers, the monthly cash deposit limit ranges from ₹1 crore to ₹2 crore.

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