New Measures by Income Tax Department to Investigate Cash Transactions

New Measures by Income Tax Department to Investigate Cash Transactions

New Measures by Income Tax Department to Investigate Cash Transactions The Income Tax Department uses various data analysis techniques to identify individuals who haven’t filed tax returns or have reported less income than they actually earned. They work with different government agencies to gather information about people who spend large amounts of money but don’t […]

Just as payment methods are changing in the digital age, so has supervision over them. How much do you pay online or buy something with cash — the Income Tax Department now takes all this into account. If you think the Income Tax Department won't know until you tell them yourself — that's wrong. Such an error can cause trouble for you. Let's take a look at 5 cash economic transaction methods that the Income Tax Department can look at you:Deposit…