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Income Tax Department Special Focus on All Bank Transactions - NTv

Sat, Mar 04, 2017, 12:48 PM
Customers who do money transactions worth Rs 10 lakhs and above per annum through various means like deposits, property transactions and credit card bills will come under IT surveillance. IT department has formed a platform in this regard. After demonetisation if a person had done any of these transactions worth over and above Rs 10 lakhs the information will automatically go to IT department from banks. If any person deposits more than Rs 2.5 lakhs after demonetisation it will also go to IT department directly from banks. To say it in a sentence all the transactions in the accounts will reach IT department without the notice of customer.
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