10 moves income tax watches
🚨 Income Tax Dept is Watching These 10 Moves! 🚨
Stay Alert, Stay Compliant 👇
1️⃣ Cash deposit in Savings A/c – ₹10L+
2️⃣ Cash deposit in Current A/c – ₹50L+
3️⃣ Credit Card Bill (cash pay) – ₹1L+
4️⃣ Total Credit Card Bill – ₹10L+
5️⃣ Property Buy/Sell – ₹30L+
6️⃣ Fixed Deposit – ₹10L+
7️⃣ Foreign Travel / Forex – ₹10L+
8️⃣ Shares / Bonds Investment – ₹10L+
9️⃣ Cash Gift w/o Proof – ₹50K+
🔟 Cash received from 1 person/day – ₹2L+
💡 Keep transactions clean & documented! more
Stay Alert, Stay Compliant 👇
1️⃣ Cash deposit in Savings A/c – ₹10L+
2️⃣ Cash deposit in Current A/c – ₹50L+
3️⃣ Credit Card Bill (cash pay) – ₹1L+
4️⃣ Total Credit Card Bill – ₹10L+
5️⃣ Property Buy/Sell – ₹30L+
6️⃣ Fixed Deposit – ₹10L+
7️⃣ Foreign Travel / Forex – ₹10L+
8️⃣ Shares / Bonds Investment – ₹10L+
9️⃣ Cash Gift w/o Proof – ₹50K+
🔟 Cash received from 1 person/day – ₹2L+
💡 Keep transactions clean & documented! more
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View all 7 comments Below 7 comments
As common citizens, we do not really come to know what IT authorities do to keep a tab on those exceeding these limits. This information needs to be available in public domain. more
Nov 12
These transactions are reported to the Income Tax Department through the Annual Information Statement (AIS) and Statement of Financial Transactions (SFT). If any mismatch occurs with your filed ITR, you might get a notice. more
Nov 11
Thanks for the information. Very useful. Though personally, I do not come under any of these categories, I can pass on this info to people around; even if there is an annual payment to the auditor, it is worth going through one, especially in the beginning of the financial year so that people can plan their financial activities properly keeping everything above board. more
Nov 11
What is the problem if everything is above board? Let them raise or reduce the thresholds. If you are clear, there is nothing to be concerned about. I don't think the tax department makes any public disclosure of personal data. more
Nov 11
