Introduction

Not all financial activities catch the eye of the Income Tax Department, but certain high-value transactions definitely can. These transactions are tracked closely and reported by banks, registrars, and other institutions, making it necessary for taxpayers to stay alert and compliant.

• Cash deposits above ₹10 lakhs in a savings account.
  
• Fixed deposits exceeding ₹10 lakhs in a financial year.
  
• Credit card payments above ₹1 lakh in cash or ₹10 lakhs in total.
  
• Purchase or sale of property above ₹30 lakhs.
  
• Investment in shares, mutual funds, or bonds over specified limits.
  
• Foreign travel expenses above ₹2 lakhs in a year.
  
• High-value jewelry purchases reported by sellers.
  

Conclusion

Being aware of high-value transactions that may trigger scrutiny helps you stay prepared. Always ensure such transactions are supported by valid income sources and correctly reflected in your return. Proper recordkeeping and transparency are the best shields against tax notices.