Table of Contents
- 1 What is the limit of Indian bank savings account?
- 2 What is minimum balance in Indian bank savings account?
- 3 What are the threshold limits for income tax in India?
- 4 What is the maximum income tax amount for senior citizen in India?
- 5 What is the minimum balance required for indindusind bank privilege savings account?
What is the limit of Indian bank savings account?
❖ The account shall have limitation regarding total credits (should not exceed one lakh rupees in a year), Maximum balance (should not exceed fifty thousand rupees at any time) and the total of debits by way of cash withdrawals and transfers (will not exceed ten thousand rupees in a month).
What is minimum balance in Indian bank savings account?
Overview of Indian Bank Savings Bank
Bank | Indian Bank |
---|---|
Initial Deposit Requirements | Nil |
Minimum Amount | Minimum amount for non-cheque operation is Rs.250/- Minimum balance for cheque operation is Rs.500/- Pensioners and bonafide students may have lesser minimum balance |
Debit Card Offered | Free ATM cards/Debit cards provided |
Which bank is best for savings account in India?
Top Banks that have the Best Savings Account for Individuals
- State Bank of India (SBI) Savings Account.
- HDFC Bank Savings Account.
- Kotak Mahindra Bank Savings Account.
- DBS Bank Savings Account.
- RBL Bank Savings Account.
- IndusInd Bank Savings Account.
What are the threshold limits for income tax in India?
S.N. Particulars Threshold Limits A. Basic Exemption Basic Exemption 1. Maximum amount of income which is not ch Rs. 2,50,000 2. Maximum amount of income which is not ch Rs. 3,00,000 3. Maximum amount of income which is not ch Rs. 5,00,000
What is the maximum income tax amount for senior citizen in India?
Rs. 2,50,000 2. Maximum amount of income which is not chargeable to Income-tax in the hands of a resident senior citizen (who is at least 60 Years of age at any time during the previous year but less than 80 Years of age on the last day of the previous year) Rs. 3,00,000
How much money can you keep in your savings account in India?
There is no upper limit to how much money you can keep in your savings account in India. You will, however, need to furnish all the details when filing your income tax returns. Also, as per RBI guidelines, the bank has to inquire about the source of the money, especially if an amount larger than 2 lakhs is deposited at one go.
What is the minimum balance required for indindusind bank privilege savings account?
IndusInd Bank customers who have their Privilege Savings Accounts with Category A and Category B branches need to fulfill a minimum balance requirement of Rs. 10,000. Customers having their savings account in Category C branches are required to fulfill a minimum balance requirement of Rs. 5,000.