Changes in Banking System: Major Changes in Rules, Up to 2 Million Must Be Shown
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Changes in the banking system. If you are going to deposit or withdraw money in the bank today, read this news first and then take action. Since May 26, there have been some major changes in the rules for depositing and withdrawing money in the bank. This news is very useful for you if you are going to deposit or withdraw your money in the bank today. From May 26, the rules for depositing and withdrawing money in the bank have been changed. Now you have to follow these rules for bank transactions. According to the new rule, it is necessary to give PAN card or Aadhar card while depositing money in the bank or post office.
Learn what the new rule is.
According to the new rules issued by the Central Board of Direct Taxes (CBDT), it is now necessary to provide a PAN card or Aadhaar card for depositing more than Rs 2 million in a bank or post office. At the same time, this rule applies to withdrawals. You will also need to provide a PAN card or Aadhaar card to withdraw cash of Rs 2 million or more. The Central Board of Direct Taxes (CBDT) has enacted new rules under the Income Tax (15th Amendment) Rules, 2022, the notification of which was issued on May 10, 2022.
Under the new rules, it has become mandatory to provide PAN card or Aadhaar card for depositing Rs 2 million in one or more accounts at a bank, cooperative bank or post office in a financial year. In addition, to withdraw cash of Rs 2 million in a financial year from a bank, cooperative bank, or post office, it has become necessary for you to provide a PAN card or Aadhaar card.
Current Account Rules
If you want to open a current account or current account in a bank, you will also need a PAN card. Also, even after having a PAN link in the bank account, you have to follow these rules at the time of transaction.
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