This discussion clarifies concerns about receiving an Income Tax (IT) notice for investing in mutual funds. The general belief that investing over Rs 2.5 Lakhs triggers a notice is a myth. The actual reporting threshold under SFT (Specified Financial Transactions) for mutual funds is Rs 10 Lakhs and above in a financial year. Regular Income Tax Return (ITR) filers are unlikely to face issues, especially if their investments are below this higher threshold.
15 December 2023
Sir, please suggest a person invested Rs. 3 Lacs in Mutual fund and stocks also. can he face notice from IT department. someone told if any body invest more then Rs. 2 Lacs fifty thousand in one Financial year he she face notice from IT department Mutual fund company report to IT department through SFT please suggest it's any myth or reality.
I am regular Filed ITR from FY 2020-21 2021-22 2022-23