The concept of income tax high value transaction is simple to understand. They are transactions or big money moves that banks and financial institutions report to the Income Tax Department if they cross a set limit. These reports are submitted by May 31 each year so that the department can track your financial activities through a Statement of Financial Transaction (SFT) or a Reportable Account. It is an efficient way to ensure everyone pays the right taxes and stays compliant.
How to Check ITR High Value Transactions?
To check the ITR High Value Transactions, here is what you can do:
Log in to the
Income Tax Compliance
portal by entering your PAN number and password.
Tap on the “Pending Actions” option.
Select the “Compliance portal” and then “E Campaign.”
Next, you will be able to see the high-value transaction in income tax. So this is how to check high value transaction in income tax. If you still feel confused, consult with a tax expert.
Consult with NoBroker’s Legal Experts for any Tax-Related Doubt or QueryRead More:
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Authors Of The Question
How to Check High Value Transaction in Income Tax?
Hari
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1 Answers
30 days
2024-11-28T08:44:46+00:00 2024-11-28T08:44:46+00:00Comment
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