Friday , December 27 2024

Income Tax: How much cash can you keep at home


Do you know how much cash you can keep at home? Otherwise, today we are going to give you information in this regard. You should be aware of the rules for keeping cash in your home. According to the rules, there is no specific restriction regarding keeping cash at home i.e. there is no limit fixed.

According to the Income Tax Department, you can keep any amount of cash in your home. According to the department, you must have the right source of cash. If any investigating agency raids your house then you will have to tell from where you got this cash.

If you do not give this information, action can be taken against you. If your money comes under the ambit of tax then you will have to file a return. It is very important. Even if you do not do this, action can be taken against you.