Learn Tax from Zero to Hero level. (High upi,Cc,Bank transection)

[Tk Bhai]

I am beginner, don't know much about tax and Tds payment.
(There many other people aslo have this query in this communication)

Let me help by discussing all about new tax regiment.
If my income is not above 3 Lakh but my bank transections in a financial year about 10 Lakh and my Credit card transection in a financial year about 5 Lakh.(from same bank three different CC)

What should I do?
Is there any notice will be served by Income tax department to me?
let me know all about this things.

 

[launchcraft]

You are likely to receive a notice if your credit card transactions are above 10 lakh.
If you are paying your credit card bills with cash deposit, you will be in the income tax department radar as this shows your income is much less but you have cash in hand from different sources, so paying bills with cash is a big no.

 

[ankush007]

I am beginner, don't know much about tax and Tds payment.
(There many other people aslo have this query in this communication)

Let me help by discussing all about new tax regiment.
If my income is not above 3 Lakh but my bank transections in a financial year about 10 Lakh and my Credit card transection in a financial year about 5 Lakh.(from same bank three different CC)

What should I do?
Is there any notice will be served by Income tax department to me?
let me know all about this things.

Expense 10lacs ... Income 3lacs. Keep trail documents to prove loan/gift of 7 lacs from Friends/Family's. If you have you're safe or else try to keep track of these from now on... Till your under 30 as per your PAN .. IT too knows ki Baap ka paisa ura raha hain.