10 High Value Transactions that are tracked by the Income Tax Department and can bring you under their radar:
|
TRANSACTIONS |
VALUE (In Rs.) |
|
Payment to Hotels, Property tax p.a., Health Insurance premium |
20,000 |
|
Life Insurance Premium |
50,000 |
|
Payment of educational fee / donations, Electricity Consumption p.a, Purchase of Jewelry, white goods, painting, marble, Credit Card Payment in Cash |
1,00,000 |
|
Deposit / Credits in Current Accounts |
50,00,000 |
|
Deposit / Credits in non-current Accounts |
25,00,000 |
|
Credit Card payment in any mode other than cash, Purchase of Foreign Currency, Purchase of Shares / Mutual Funds / Bonds / Debentures |
10,00,000, |
|
Share transactions in DMAT Accounts / Bank Lockers |
Any amount |
|
Domestic business-class air travel/foreign travel |
Any amount |
|
Purchase or Sale of Immovable Property (House, Land, Apartment etc.) |
30,00,000 |
|
Cash Deposit in Savings Account, Term Deposits |
10,00,000 |
Click here to read in details about these transactions.
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