Tag: high-value transactions

Got tax dept SMS on high value transaction mismatch? Here is how to deal with it

NEW DELHI: The income tax department has sent SMSes to taxpayers on 29 March, related to mismatches between income tax returns (ITR) filed for FY2019-20...

What to do if you get a scrutiny notice from the tax department

Although the tax department didn’t disclose the absolute number of cases, the tax experts believe that better data collection and mining may have helped in...

The big-ticket transactions that can bring you under the radar of the I-T dept

To widen the tax net, the income tax department is using analytics to scrutinize data to find out people who haven’t filed income tax returns...