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I had 5 lakhs in my savings account can I deposit 2.5 now in my account?

You can deposit ₹2.5 lakhs into your savings account, but there are a few considerations to keep in mind:

Cash Deposit Limits

There is no daily limit that prohibits you from depositing ₹2.5 lakhs in one day, but you need to be aware that deposits above ₹50,000 in a single day require you to provide your PAN details if not already provided to the bank2 4.

Annual Limits

The total cash deposit in a financial year should not exceed ₹10 lakhs to avoid attracting unnecessary attention from the Income Tax department. Since you already have ₹5 lakhs in your account, depositing another ₹2.5 lakhs would still be within this annual limit of ₹10 lakhs2.

Compliance

If the total deposits in a financial year exceed ₹2.5 lakhs, the bank may report this to the Income Tax department, and you might receive a notice to explain the source of the funds. However, if you can account for the deposits, there is no need to panic2 4.

In summary, you can deposit ₹2.5 lakhs into your savings account, but ensure you comply with the PAN requirements and be prepared to explain the source of the funds if the total annual deposits exceed ₹2.5 lakhs.