High-Value Transactions Under the Scanner.

High-Value Transactions Under the Scanner.

The Income Tax Department is cracking down on big spenders who might be dodging their taxes. They’re using advanced data analysis and working closely with financial institutions to keep a close eye on high-value transactions to ensure everyone pays their fair share. What’s Being Monitored? The I-T Department is partnering with banks, post offices, co-operatives, … Read more

IT Dept’s Radar: High-Value Transactions Under Scrutiny for Tax Compliance

IT Dept’s Radar: High-Value Transactions Under Scrutiny for Tax Compliance

The Income Tax Department in India is cracking down on big spenders who might be underreporting their income. They’re doing this by keeping a close eye on high-value financial transactions, and they’ve roped in banks, post offices, and even fintech companies to help. These institutions now have to report certain activities to ensure everyone pays … Read more