I am a student but have a total annual UPI transaction amount of more than 26 lakhs. Should I file ITR?

[sharsh029]

I am a student and have conducted UPI transactions amounting to ₹26 lakh in the previous year. Most of these transactions were made on behalf of my relatives and my father, including transferring funds to others and paying credit card bills. Should I expect to receive a notice from the Income Tax Department?

 

[TaxWiser]

I am a student and have conducted UPI transactions amounting to ₹26 lakh in the previous year. Most of these transactions were made on behalf of my relatives and my father, including transferring funds to others and paying credit card bills. Should I expect to receive a notice from the Income Tax Department?

I understand your concern.
Given the significant UPI transactions you've conducted on behalf of relatives and your father, it's essential to maintain proper documentation. While there's no immediate cause for worry, having accurate records will help address any queries from the Income Tax Department if they arise. Remember, consulting a tax professional for personalized advice is always a prudent step.