If AIS/SFT shows H.V.Txns., is it mandatory for tax payer to justify and give further info. in ITR?!
Is there any separate Form for furnishing such info. , while filing ITR ??
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High Value Transaction in AIS/SFT
Replies (3)
Here, at the time of filing ITR, you need to ensure such high value transactions have been considered in ITR.
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
Thank you.
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