16 large financial transactions you can’t hide from Income Tax Department: Deposit, withdrawal, cash payments and more

Large financial transactions like cash withdrawals, property sales, and investments are automatically reported to the Income Tax Department via the Statement of Financial Transaction (SFT) mechanism. This reporting occurs even if these details aren't explicitly declared in your income tax return. Specified entities are mandated to submit this information.

from Tax-Wealth-Economic Times https://ift.tt/WuGer8d