There were news that income tax department has raised the threshold limit possible selection for tax scrutiny for high value transactions (https://www.indianexpress.com/news/threshold-norms-for-tax-scrutiny-of-highvalue-transactions-raised/1123020/).As per the media article which was same worded all over one possible case for tax scrutiny was "have mutual funds, debentures, bonds, shares of over Rs 10 lakh". So the confusion is regarding this new limit of 10 lakhs - is it the net cumulative investment of above 10 lakhs in mutual funds, debentures, bonds, shares of all companies in a financial year or does it mean single transaction value of above 10 lakhs in a single mutual funds, debentures, bonds or shares of a company in a financial year.
Earlier this limit used to be single transaction based with different limits for each type viz - 1 lakh for any share/IPO, 2 lakhs for single mutual fund, 5 lakhs for bonds etc.
Do we have any confirmed clarity on this limit?
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