Cash deposit more than 50 lakhs in saving bank account

[SHAAN NISHA]

Hi Everyone,
if i fill my return u/s 44ae and cash deposits in my saving bank account during the year is more than 50 lakhs than what kind of justification/ we need to submit here. if get notice for submitting of justification for depositing cash more than 50 lakhs in saving bank account???. And what is the limit of depositing cash in current account and saving bank account in a FY Upto which no information sent to IT Department By Bank? Or we need to submit justification or prove source of income?
Thanks In Advance

AI Summary

Guidelines for Justifying Cash Deposits Over 50 Lakhs Under Section 44AE and Required Documentation Explained. A user inquired about the process and requirements for justifying cash deposits exceeding 50 lakhs in a savings bank account, specifically when filing a return under section 44AE. The user asked about the necessary documentation if notified by the Income Tax Department and the cash deposit limits in savings and current accounts that do not require bank reporting to the tax authorities. The response advised that the user must provide proof of the income source and justification for the large deposit in their account.