Financial Transactions Which May Attract Income Tax Notice

In this digital world do remember all your financial transactions may be supervised and monitored by the Income Tax Department. Infact Financial institutions should report “High Value Transactions” to the I.T Department mandatory. To know which transactions may levy income tax notice on you, read the full story- Savings a/c Deposits– In any case ifContinue reading “Financial Transactions Which May Attract Income Tax Notice”

From HereOnwards, High Networth MF Transactions are To Be Disclosed in Form 26AS

To bring transparency in income tax returns, Central Board of Direct Taxes(CBDT) has increased the volume of the transactions reported in Form 26 AS Tax Payers can access their Form 26AS statement using their Pan Number from the income tax website. From there, they have to verify the TDS/TCS Details, Tax Paid, Specified financial transactionsContinue reading “From HereOnwards, High Networth MF Transactions are To Be Disclosed in Form 26AS”