ITR Alert: 5 High-Value Transactions May Come Under Scrutiny
There's been a lot of talk lately about how the Income Tax Department (ITD) tracks cashless transactions. Some folks think they can fly under the radar, but the truth is, the ITD has some pretty slick tools up its sleeve. It keeps a close eye on transactions that go above certain limits, whether you're swiping your card, using UPI, or even making cash deposits or withdrawals. Banks and financial institutions play their part too, reporting these transactions promptly to the tax office.
Source: indiatimes.com