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.)