Categories: BUSINESS

Tax notice alert! Buying land above Rs 30 lakh? Here’s why you may come under Income Tax Department scrutiny and how to avoid it

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.
Sumitra

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Sumitra
6 months ago

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