Various PSU and Private sector banks slashed interest rate on Fixed deposit...Govt. allowed central staff to draw upto Rs 10 thousand in cash as advance salary..Banks, Post offices to report cash deposits of over Rs 2.5 lakh to I-T...Dearness Relief to Central Government pensioners/family pensioners from 1.7.2016 - Orders issued...Don't need ID copies to exchange old currency notes, says Reserve Bank of India ......WELCOME TO SAPOST ODISHA... ...

Demonetisation : Financial Advise for Deposit amount in your account

Financial Advise :

1. Deposit cash less than Rs. 50000 at one time & 10 lac cash in a year (1.4.16 to 31.3.17) in saving bank account. To avoid Income tax department Notice.

2.Do not deposit cash more than Rs.2 lakh in saving bank account (from 11/11/16 to 31/12/16). If you are non tax payer. To avoid Income tax department Notice.

3. Don't try to be over smart
By depositing cash in your different different saving bank accounts. As for income tax limits (Rs. 200000 & Rs.1000000) those will be considered all together.

4. Till 30th December no limit for depositing cash in bank so people may do a mistake.

5. Pan card must for depositing Rs.50000 /- and more.

6. Don't use Credit Card for shopping more than Rs. 200000 (from 01/04/2016 to 31/03/2017). To avoid Income tax department Notice.

7. Do not panic and rush to the banks or post office for depositing the old notes.You are monitored.

8. Understand the impact. When you go to the bank for depositing the same you first check that whether you have cash balance in your books or not.

9. Any unexplained cash deposit attract tax @30%, interest & 200% penalty.

10. Update your books of accounts immediately to know cash position.

Again do not panic.

Every problems have some solution.

Source:sa post blog



All the information published in this

webpage is submitted by users or free to download

on the internet.I make no representations as to

accuracy, completeness,currentness, suitability,

or validity of any information on this page and it

will not be liable for any errors, omissions,or

delays in this information or any losses,injuries,or

damages arising from its display or use.

All information is provided on an as it is basis.

All the other pages you visit through the hyperlinks

may have different privacy policies.

If anybody feels that his/her data has been illegally

put in this webpage,or if you are the rightful owner

of any material and want it removed

please email me at


and I will remove it immediately on demand.

All the other standard disclaimers also apply.


TM. Sa Post Odisha