🦋͜͢͡𝄟⃝ғͥғɪᴄͣɪͫ͢͢͢ꫝʟ _𝓚𝓲𝓬𝓬𝓱𝓪 𝓐𝓴𝓴𝓪🦋
The article explains that high-value digital transactions via UPI, NEFT, or RTGS do not automatically trigger an Income Tax notice. Instead, notices are sent when there is a discrepancy between an individual's declared income in their ITR and their actual expenditures. Financial institutions report high-value transactions like credit card bills, property purchases, and mutual fund investments to the IT department through SFT and AIS. To avoid notices, taxpayers should ensure their spending aligns with their reported income and file their ITR accurately.
https://odia.news18.com/photogallery/trending/income-tax-alert-for-upi-digital-payments-know-the-truth-ssd-ws-l-403940.html