7 WAYS INCOME TAX DEPT. IS GETTING INFORMATION ABOUT YOU !!!

" 7 Ways Income Tax Department Is Getting Information About You !!!!!!!!!!!!!!!!!!! "

The Income Tax Department is watching you silently !!!!!!!!!!!!!!!! 

As far as IT Provision is concern, where some specified persons are held responsible for filing Annual Information Return (AIR ) with the Income Tax Department.These data are then taken up on a sample basis for Scrutiny Selection.

Here are the 7 reasons why information about your transaction will be stored in central database of income tax department . This is as per law and the same person with whom you have made transaction is compelled under I .T. Act to submit the information to department annually !!!!!!!!!!!!!!!!!!!!!

1) You have deposited Rs 10 lakhs in aggregate in a savings account with a bank.

2) Payments of Rs 2 lakhs in aggregate in a year made through your credit cards.

3) Bought Mutual Fund units for Rs 2 lakhs from a mutual fund company.

4) Invested Rs 5 lakhs in bonds or debentures issued by the company or institution.

5) Applied for shares in IPOs for Rs 1 lakhs or more.

6) Purchased or sold immovable property valued at 30 lakh rupees or more.

7) Applied for RBI bonds for 5 lakh rupees or more in a year .

Thanks.
PALASH RAKSHIT.