Cash deposit vs gift tax: Why a ₹10 lakh bank deposit may attract scrutiny while a ₹50 lakh family gift can be tax-free(Soban News)

Cash deposits of ₹10 lakh or more in savings accounts can be reported to the Income Tax Department, while parents can gift ₹50 lakh or more to children tax-free. Know the cash deposit limits, gift tax rules and documents needed to avoid scrutiny.

​Cash deposits of ₹10 lakh or more in savings accounts can be reported to the Income Tax Department, while parents can gift ₹50 lakh or more to children tax-free. Know the cash deposit limits, gift tax rules and documents needed to avoid scrutiny. by Soban News (international And National News)