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Jewellery purchases over ₹1 lakh, ₹20,000 hotel bills to come under I-T scanner
short by Krishna Veera Vanamali / on Friday, 14 August, 2020
The Income Tax Department is planning to expand the list of reportable transactions to include hotel payments over ₹20,000, purchase of jewellery over ₹1 lakh and electricity bills above ₹1 lakh a year. Other transactions that will come under the scanner include domestic business class air travel, foreign travel, payment of school/college fees over ₹1 lakh a year.
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