Income Tax Department

Photo: Business Standard

I-T Departments Monitor High-Value Transactions, Report Immediately To Avoid Actions

Recently, the Income Tax (I-T Department) entered into agreements with several government agencies and financial institutions to access the records of individuals regarding high-value transactions. Now, the I-T Department is monitoring high-value cash transactions beyond a specific limit, and issuing notices to individuals, who fail to mention those high transactions, in their IT returns. The information needs to be updated in mutual-fund… read-more

Wed, 13 Jul 2022 - 01:15 PM / by Varsha Joshi

Tags: IT Department, Tax Payers, High-Vlaue Transaction, Notices, Finances

Courtesy: NDTV