source avatarCA Nitin Kaushik (FCA) | LLB

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A ₹10 lakh cash deposit does not automatically mean you’ll get an income tax notice. Neither does a ₹30 lakh property transaction. These amounts are often reporting thresholds, not “illegal transaction” limits. Banks, mutual funds, registrars and other institutions report certain transactions to the tax department. The real question is: Can you explain the transaction if it’s questioned? 🧵👇🏼 #IncomeTax #TaxPlanning #PersonalFinance

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