Finance
Mr. BillionhairIncome Tax Emails: Big Deposits, No Need to Panic!
Folks, listen up! The Income Tax Department is sending out emails—big, beautiful emails! They’re flagging those gigantic cash deposits and property deals. But don’t sweat it! These are just compliance nudges, not tax demands! Many flagged entries? Totally not taxable! Just prove your sources, keep those records tight, and review before December 31! You’re gonna be just fine!
few days ago | Amit Kumar
Quick rundown
1.High-value transactions in AIS are not always taxable.
2.AIS tracks financial activity linked to a PAN.
3.Not all flagged transactions lead to tax liability.
4.Ignoring compliance emails can lead to scrutiny.
5.Review AIS entries and revise returns by December 31.
