All monetary transactions on apps under I-T dept's scanner, warn taxation professionals

LUDHIANA: Taxation Bar Association (TBA) Ludhiana has cautioned taxpayers to file their Income Tax (I-T) returns as per the actual income and expenditure because the I-T department now has data of persons's minutest transactions even those done via mobile apps.


A TBA delegation led by president Indersain Sharma made this observation after their back to back meetings with the senior most IT officials of Ludhiana and the region.

Giving more information, Sharma said, “Technology has made such advancement today, that even smallest of receipt of money via online apps or small spendings on ordering from food apps by a person are automatically under scanner of the taxation authorities, even they not particularly seeking this info. So the taxpayers need to be wise and report their actual income and expenditures in their ITR rather than trying to conceal anything as it is not going to help at all. Taxpayers should be very cautious in case of high value transactions and report the exact amount in their ITRs or else they would be at high risk of IT survey”

Sharma also added, “Today a delegation of TBA met Narender Kumar Chand Principal Commissioner Investigation , Tarun Kumar Principal Director Investigation and discussed the matters regarding reporting of Income as per data collected by department. Meeting was held amidst very cordial environment and other matters concerning bar and bench were also discussed in this high level meeting.”

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