High Value Transaction in AIS/SFT
ashok oza (274 Points)
05 April 2024Is there any separate Form for furnishing such info. , while filing ITR ??
APURBA CHATTERJEE
(QUALIFIED CHARTERED ACCOUNTANT)
(604 Points)
Replied 05 April 2024
Here, at the time of filing ITR, you need to ensure such high value transactions have been considered in ITR.
CA Roomi Gupta
(FCA)
(149 Points)
Replied 05 April 2024
There is no separate head to report high value transactions in ITR, so they should be reported just like other transactions. However, you may get alerts about the non-disclosure of such transactions through an email and SMS. You should promptly respond to them through the Income Tax Compliance portal