Digital transactions like UPI and NEFT can trigger income tax notices. These notices arise when transactions do not match your declared income. The Income Tax Department cross-verifies financial data from various sources. Taxpayers should regularly check their Annual Information Statement and reconcile records. Maintaining transaction records and accurately reporting income prevents unnecessary scrutiny.
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.