I am a regular filled ITR. in FY 2023-24 I have invest Rs. 220000/- in Mutual funds via SIP and purchase some stocks. so it's high value Transaction or note. can I face any notice from IT department.
please suggest
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Quick Summary
A taxpayer invested £220,000 in mutual funds via SIP and purchased stocks in FY 2023-24. They are concerned if this is considered a high-value transaction that might attract a notice from the IT department, especially as it will appear on their AIS & TIS. The advice given is that £2.20 lakhs is not a huge amount, but it's important to ensure it's reflected correctly and to check for any high-value transaction emails from the department.