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Home > Income Tax > Help Center > Bank Lockers Last Updated: Dec 28th 2023
Bank Lockers are safe deposit boxes. Bank lockers can be used to store valuable such as jewellery, property documents, loan documents and other confidential items. Bank lockers are the safest way to store valuables as there is a risk of being stolen if stored in residential or office premises.
This document covers
There are certain points which needs to be kept in mind while opening a safe deposit locker in banks
It is critical to provide the bank with an up-to-date email address and an active mobile number in order to receive any urgent communications concerning your locker.
Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.