There are few transactions which are tracked by the Income tax departments. I have just made a short snippet of it for the views to understand it without any technicality.




Transactions monitored by Income tax department

1. Cash deposit/withdrawal in financial year in one or more accounts

Rs 10 Lakhs: Savings Account

Rs 50 Lakhs: Current Account

2. Cash payment of 10 lakh or more in a financial year for purchase of bank drafts/pre paid instruments.

3. Other transactions

> 1 Lakh cash payment done for credit card

> 2 Lakh cash payment done on purchase of car

> 2 Lakh receipt of cash payment for sale of any goods & services

> 10 Lakhs deposited in Fixed deposit

> 10 Lakhs invested in shares

> 30 Lakhs invested in real estate

> 2 Lakhs jewellery purchased

Please refer all the relevant sections, rules, amendments and consider all the necessary requirements as applicable. The author is not responsible for any losses caused or incurred.


The content is merely for sharing knowledge. Author can be reached at [email protected] .com or 9819244185.

Author Bio

Qualification: CA in Practice
Company: Co-founder of Budding Business & Makwana Sweta & Associates
Location: Mumbai, Maharashtra, India
Member Since: 20 Aug 2017 | Total Posts: 66
A Practicing Chartered Accountant with over 4 years of rich experience in Company Law, Audits, Accounts & taxation. She is a writer at her own blog She is keen in streamlining business accounts of the Company and provide Startup consultancy. View Full Profile

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September 2021