Planning to buy item worth more than Rs 2 lakhs? Keep THESE documents ready or else you shall land in BIG TROUBLE

How much cash may a person keep in their house? What are the cash tax regulations? What if the tax authorities discover that you have a sizable amount of money? Here is the detail of each and every norms of Income Tax Department.

You must give the bank your PAN information if you want to deposit or withdraw more than Rs 50,000. Anyone making a deposit of more than Rs 1,20,000 is required to present their PAN and Aadhaar cards.

Don't accept cash of more than Rs 2 lakhs. Use bank channels to avoid legal actions.

To avaoid any trouble, you must pay TDS if you withdraw more than Rs 2 crore in cash from any bank.