10 transactions are on the Modi Government’s eye, stay alert

The Modi government’s on Blackmoney is constantly taking many major decisions

The Modi government’s on Blackmoney is constantly taking many major decisions. Under this, the government has consistently appealed to people to declare income tax and give tax. modi Government’s has also made new rules for this. Under the new rules, the Income Tax Department is monitoring all your transactions. In this case, you have to be alert in filing your income tax return

We are telling you about 10 transactions whose information is automatically done by the government:-

Under the rules, if you deposit a total of 10 lakh rupees or more in one or more accounts in a financial year in the bank, then the information will be given to the bank’s Income Tax Department. Based on this, the Income Tax department can ask you the source of this money.
Find out what will happen at a fixed deposit of Rs. 10 lakhs in the next slide

Rs 10 lakh fixed deposit:-

If a person makes a fixed deposit of 10 lakh rupees or more in a financial year, then the bank will have to give this information to the Income Tax Department. In such a case, it may be costly to show less income in income tax returns for anyone.

Cash payment of Rs 1 lakh credit card bill:-

The bank also has to pay the information of the credit card bill payment of more than Rs. 1 lakh to the Income Tax Department. Apart from this, in order to set up a credit card duo of 10 lakh rupees or more in a financial year, payment of any mode check, online or cash will be given to the Income Tax Department.

2.5 lakh Cash Deposit:-

Income Tax Department has directed banks that if any person deposits one or more accounts of 2.5 lakh rupees or more between November 9, 2016 to December 30, 2016, then the banks will have to give this information.

Cash Deposit of Rs. 12.5 lakhs in Current Account:-

Note: If any person has deposited a cash amount of Rs. 12.5 lakh or more in the current account, then the bank will have to give this information to the Income Tax department

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