Income Tax Notice: Do not do these 6 transactions within 1 year, Income Tax Notice will reach your home directly

Income Tax Notice: Are you making any mistake in the process of saving income tax? It is important to read and understand the income tax rules carefully. Do not do any such transaction, which may attract the suspicious eyes of the tax department and the department may send you a notice. Tax evaders are constantly on the radar of the income tax department. The banking transactions of such people are closely observed and checked. Let us know which are the 6 big transactions, which if you do in a financial year, you may get an income tax notice.

Income tax notice on FD

1. Risk of notice on making FD of more than Rs 10 lakh in a financial year
2. On depositing Rs 10 lakh in one or different accounts in a financial year
3. On purchasing immovable property worth Rs 30 lakh or more, the property department informs the tax authority
4. On purchasing mutual funds, debentures and bonds worth Rs 10 lakh or more in a financial year
5. On purchasing foreign currency worth Rs 10 lakh or more, which includes traveler’s cheques and foreign currency cards, debit or credit cards