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Does bank send pan/ account holder name to income tax department for any heavy transaction

Atharv Sankliya (293 Points)

26 October 2021  
does bank send pan/ account holder name to income tax department for any heavy transaction??

 3 Replies

Janak Shah (ca) (558 Points)
Replied 26 October 2021

Yes. Bank have to file AIR with income tax department to report transactions when they exceed specified limits.

sabyasachi mukherjee (6774 Points)
Replied 26 October 2021

Limit is there.

Atharv Sankliya (293 Points)
Replied 26 October 2021

What limit it is ??

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