20-August-2026
Taxation
 
Rs 2.33 crore cash withdrawn from bank and deposited months later Income Tax questions why it is kept idle
20-Aug-2026

The department questioned why such a large amount would be withdrawn without a clear purpose and then allegedly kept in cash for two-three months. A large cash withdrawal from your bank account followed by a big cash deposit a few months later can raise questions from the Income Tax Department. But an earlier withdrawal can also support the explanation for a later deposit — provided the taxpayer can establish a credible link between the two.

News Source:- https://www.financialexpress.com/money/rs-2-33-crore-cash-withdrawn-from-bank-and-deposited-months-later-income-tax-questions-why-it-is-kept-idle-4321167/?ref=personalfinance_hp