Income Tax Caution 44AD and 44ADA

 

Before declaring your Income, Make sure it covers following

•  High-value car/property purchases

 • Credit card bills > reported income

• Large foreign travel spends

• Crypto, stock, or mutual fund investments

• Large unexplained cash deposits in Banks

• Gold/jewellery purchases

 

 

This data is complied by ITD from following

• AIS (Annual Info Statement)

 • TIS (Taxpayer Info Summary)

• SFT (High-value transaction reports)

• Property registration data

• PAN-linked spends (e.g., on LRS, insurance, FD, etc.)

Refund not received in SBI or Payment deducted

 In case you have made payment via SBI Bank to any Merchant (say Amazon, Flipkart, Swiggy, Zomato Etc),  and the amount has been deducted but not received by Merchant then you need to check for 2 things

1) Merchant Reference number

2) Transaction Date

After obtaining these 2 things with you , you can check the status at following link

https://www.sbiepay.sbi/secure/transactionTrack 

Refund not received in Bank

You must ask for Refund Reference Number (RRN) from your merchant if he claims he has refunded the money to your Banker.