Property buyers are increasingly receiving income tax notices questioning the source of funds for their purchases. Tax authorities are using advanced data analytics to cross-verify declared income against investment levels, especially for transactions over Rs 30 lakh. Prompt and accurate responses with proper documentation are crucial to avoid penalties and reassessment.Property buyers are increasingly receiving income tax notices questioning the source of funds for their purchases. Tax authorities are using advanced data analytics to cross-verify declared income against investment levels, especially for transactions over Rs 30 lakh. Prompt and accurate responses with proper documentation are crucial to avoid penalties and reassessment.
