25 December 2016
Whether payment made on payment gateway (PAYTM ,FREECGARGE and so on) will be under surveillance of A.I.R report under INCOME TAX act and if yes, then how transaction exceeding Rs.10 lakh will be seen if payment made through such gateway. For Eg.---If assessee made payment in parts like,5000000 on onetime and 3000000 on one time and so on, so how it fall under purview of A.I.R report?
26 December 2016
Surbhi, at the time of such huge payment u need to enhance the limit of ur Paytm or freecharge account. And for that u need to update ur KYC to them which includes PAN card details also. So automatically the IT Dept. will track u from there.
CAclubindia
