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Till which amount of cash deposits a housewife don’t have to pay taxes? 
  • a)
    Rs 2 lakhs 
  • b)
    Rs 1.5 lakhs 
  • c)
    Rs 2.5 lakhs 
  • d)
    Rs 3.5 Lakhs
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Till which amount of cash deposits a housewife don’t have to pay...
A housewife now may not face any problem from the Income Tax Department on deposit of cash up to ₹2.5 lakh during demonetisation (2016). A Bench of Income Tax Appellate Tribunal (ITAT) has held that such deposits cannot be treated as income of the assessee.
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Till which amount of cash deposits a housewife don’t have to pay taxes?a)Rs 2 lakhsb)Rs 1.5 lakhsc)Rs 2.5 lakhsd)Rs 3.5 LakhsCorrect answer is option 'C'. Can you explain this answer?
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