10 High value transactions tracked by Income Tax | Specified Financial Transactions 285BA 2022
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- čas přidán 16. 08. 2019
- Let's discuss the High-value transactions which are tracked by the income tax department. It is mandatory to report all high-value transactions in the prescribed format by the banks and all other financial institutions. The prescribed format is called as a Form 61A or Annual Information Return (AIR). Any mismatch found in Income reported in ITR vs investment/expenditure may lead to the Income tax notice. So, you need to be very careful while doing financial transactions.
Link for income tax website:
www.incometaxindia.gov.in/tut...
If anyone deposit cash aggregating to Rs 10 Lakh rupees or more in a year in any savings account it is called as a high-value transaction.
Payment in cash aggregating Rs 10 Lakh or more in a year for the purchase of DD, Pay Orders or Bankers Cheque
Payment made in cash aggregating Rs 10 Lakh or more in a year for the purchase of pre-paid instruments issued by RBI
A Cash deposit aggregating to Rs. 50 Lakh or more in a year in one or more current account of a person.
A Cash withdrawal aggregating to Rs. 50 Lakh or more in a year in one or more current account of a person.
One or more term deposit (other than renewal) aggregating to Rs. 10 Lakh or above.
Sale or purchase of immovable property for an amount exceeding Rs. 30 Lakh or above
Credit card payment aggregating Rs.2 Lakh or above in a year is also considered as high-value transaction.
An expense in foreign currency via debit card, credit card or traveler’s cheque for the amount exceeding Rs.10 Lakh or above in a year.
Cash payment received for the amount exceeding Rs. 2 Lakh for the sale of goods or services by professional.
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All information is right.....bcz im work at Income tax deptt
Thanks a lot Rakesh ji.. stay connected
@Rakesh Kumar Meena
@@shailendrasinghrathore1188 write a letter to DGIT INCOME TAX COMMISSIONER near headoffice
@@rakeshkumarmeena9648
Sir
DGIT Head office distt me hota hai....????
Rakesh Kumar Meena hi sir ek jankari leni thi ki agar koi jamin bechata hai 30 lakh se uper ka to use bhi sarkar ko gst ya tax dena hoga agar nahi diya hai tax to hum complaint kar sakte hai kya pls reply sir
Brother I wouldn't question your qualifications because every information you provided is true and simple straight forward. Tks 👍🙂
*पहला यूटूबर देखा है भाई जो हर कमेंट का रिप्लाई देता है। वाह भाई। 👍👌*
Rahul, I try to reply to every comment. Stay connected
@@TaxGuruJi Please make video for NRE/NRO account user. Yearly kitna deposit kar sakte hai??
Brother Dhanyawad. from a Sr.Citizen, 77 years.
Most Of my Banking transaction/ Payment/ Income taxes confusion is cleared from this Video. 🙏
Thanks 👍
Thanks a lot. Stay connected for more videos on ITR filing and income tax related information.
Your fluent & simple way of imparting
Information regarding 10 types of transactions were quite informative.
Such videos generate general awareness. Keep it up !👏👍👌
आप ने बहुत ही अच्छा सुझाव दिया है, यह जनरल जानकारी देकर ही सम्मानित कार्य किया है, इसके लिए बहुत बहुत धन्यवाद,
बहुत ही हेल्प फुल जानकारी है धन्यवाद
सर, आपने बहुत ही अच्छे एवं सरल भाषा में बातों को समझाया बहुत अच्छा लगा और आप ऐसे ही बहुत अच्छी-अच्छी उपयोगी जानकारियां हम लोग को देते रहिए और आपके समझाने का तरीका बहुत ही अच्छा है।
इतनी जानकारी 10 पन्ने पढ़कर भी नहीं मिलेंगी भाई आपने आसानी से समझा दिया । बहोत बहोत शुक्रिया।
You are most welcome Ajim.. Stay connected
Good information
Great piece of information you always provide Sir. I pray you never stop uploading videos on awareness about Tax Laws & P.Finance.
I must say You are #Partnering in Nation Building 😇🇮🇳😇
Good advice
Thank You for educating people.
बहोत ही महत्व पुर्ण बाते बताई है आपने. Thanks sir🙏🙏
बहुत ज्यादा अच्छी जानकारी बहुत साधारण शब्दों में। इस कार्य के लिए अभिनंदन
You are welcome.. Stay connected
Thanks Sir for explaining in simple terms. Much appreciated 👍
You are most welcome Garuav.. Stay connected
@@TaxGuruJi Oc
R.K.Saxena. Scss me apani F.D. se 10 Lack of 10 Lack above ka investment karta who then eski information Bank I.T. Department ko Dega.
अत्यंत ही अनुकरणीय एवं महत्वपूर्ण जानकारी दी है आपने 🙏 धन्यवाद
बहुत ही लाजवाब है कहानी ।सुन्दर जानकारी है ।धन्यवाद और आभार ।
Dear Gaurav,
Thank you for sharing the the valuable information.
You are welcome sir. Stay connected
34
Sir agar me swipe machine se rupay ya fir kisi visa cards payment accept kiya .. to kya iska hisab it walo ko jayega
THE BEST VIDEO FOR EVERYONE UNDERSTAND THE INCOME TAX. THANKS
Thank you for very useful & important information sharing with d community
Quite informative and in comprehendible language too... Really Appreciable !
Thanks a lot for sharing the valuable information on high value transactions so clearly in simple language. Be Blessed.
A lot of thanks, for this type of information .
Sir you are a very good and knowledgeable Charted accountant and you explain important information in very simple language.... please keep such important videos always...Great work and really appreciated..Thanks again...
शानदार प्रस्तुति के लिये बधाई हो और बहुत बहुत धन्यवाद ।अच्छी जानकारी दी है ।
बहुत ज्ञानवर्धक वीडियो है ।
Income tax is a complicated language of sections & sub sections, Ur simplifying it in national language.. thanks!!!
Most welcome Abdul.. I try to give my best.
Dear sir,
Your Income Tax Information Is Very Valuable & Practical,
I Appreciate Your,
Thanks To You.
Mohan Kale,
Mulund.
Very good,thanks for enhancing knowledge r.k.s
Mahatvpurn jankari ke liye bahut bahut dhanyavad 🙏🙏🙏
Thank you very much for sharing the the valuable information.
Explained nicely. Looking forward to seeing you again with a new content. Thank you.
You are most welcome sir.. Stay connected
Khub saras powerfull knowledge diya aapne ye kam hum logo ko samajane ka hamara CA.KA HAI JO AAPNE KAR DIKHAYA THANK YOU👌👌👌👌👌👌👌
Wow. I learn lots of things form these video. Thank you sir. Keep educated me.
Excellent Information! Very transparent, open and honest sharing of information. Thank you so much.
You are welcome Vivek ji.. keep supporting.. Stay connected
Informative in easy words. thanks dear.
also elaborate the person who received big amount on sale of immovable property that who do not file IT return.
Excellent explanation indeed!
Thanks & wish you all the best!
Dear Sir, very clear explanations. Highly impressed . Continue your service. God bless you.
Nice info sir..
Thanks for the guidance.
Please make videos on Mutual Fund Investments (direct Mutual fund, regular MF, which 5 AMCs MF is best for the investment in 2020 )
You are welcome Gorakh. Will cover this topic in my future vidoes
Thank you very much for valuable information
Admirable exposition and highly valuable. Congratulations.
कमाल कर दिए हो सर जी... धन्यवाद 🙏🙏🙏
Bahut bahut dhanyabad sir is jaankari ke liye
Sir M law kiya h Income tax gst me practice kr rha hu
Aaj वास्तव में आपकी समझाने की टैक्नीक बहुत अच्छी लगी
आप सच मे ही गुरु हैं
आपके चैनल को मैं ज्यादा से ज्यादा शेयर करवाया है
Thanks a lot Komal Ji.. Stay connected and keep supporting.
Komal Bhati okthankyou
धन्यवाद सर् जी एक महत्वपूर्ण जानकारी देने के लिए ।मै आपके चैनल में नया जुड़ा हूँ जानकारी अच्छी लगीं।।
You are welcome sir ji
Sir Aap Bahut hi achhe se samjhaye hain..Good Information Sir
I am glad I could help. Stay connected for more informative videos
@@TaxGuruJi g ह kh थ tthtthttttthhthhhghhttht5tttghttt
धन्यवाद, आपके महत्वपूर्ण जानकारी के लिये.
Information given by you are most valuable Sir! Thanks a lot!
You are most welcome Chandan... Stay connected
Brother, gave a very good information. Thank you so much.
You are welcome Abhik.. stay connected
Thank you very much. Awesome explanation.
बहुत बेहतरीन जानकारी दी आपने बिना टाइम वेस्ट किए साफ साफ
2:00 one year ka hota h ye?? mtlb hm ek saal tk agr 10 lakh ka transaction krte h apne account me net banking wagera ya other digital platform se toh problem toh nhi hogi?
CZcams se kitna aajata h bhai one month ka😄
Good
Very good and clear info
Thank you
Keep it up
I hv one question sir. One of my foreign friend want to investment in India in Hospital. He wants to give a responsibility to take care of his investments. Shall i give him my documents or its risky? Plz reply me (if possible) on my mob no. 9833651490. Pooja mumbai
Thank u sir🙏🙏simple language me samjhane ke liye
Thanks for describing the provisions nicely.
Explained very nicely, in short.
Well very useful information about daily expenses and transaction. Thanks for the video...
you are most welcome Nabil ji .. Stay connected
@@TaxGuruJi yeah sure!!!!
Thank you for your valuable information.
Thank You Very Much For Very Easy Mode To Explain
Sir, request to provide a video on itr filing for defence govt employees.
Thanks bro!
Really grateful to be living in such times where information is free.was able to withdraw my pf via watching your videos!
Wonderful information!
May God Bless you always!
Glad it was helpful!
बहुत बहुत अच्छा माहिती दिया धन्यवाद 🙏🌹
Thank you sir,,,,,,,,,very important information
You are welcome Ashok ji. Stay connected
Very good dear I was unknown person but you be good Knowledge very understand thank u lot so much...
You are welcome
Thank u sir
thanks sir for the valuable and helpful informations.🙏
No doubt Bhai you have given a very very nice and wonderful, valuable information to all of us. Thank you so much Bhai 👍👍🇮🇳
Thank you sir
You are most welcome
Thanks, kindly keep the good work going
You are welcome Amith ji.. Stay connected
Sir agar 10 lakhs se jyada shares puchase kiye hai per alag alag company ke kiye hai tau income tax mei report hota hai ya nahi...
Thanks for providing valuable information to alert.
Very much useful to common man who has no idea about tax calculation.
Thanks guru ji🙏🕉️
You are welcome
If a person has nothing to earn he will die bcoz of hunger and govt will not bother to give him food to stop him from dying.
But if that same person starts earning money for himself govt comes in and asks its share of earned money and if he refuses or conceals he will be send to jail.
What a corrupt style of govt.
U r moron .. dude..
I think u don't earn much that is why u get happy to call others moron. Go and try to earn above what average people earn. U will then know how bad it is to pay loads of taxes. Either u earn too less or u don't earn too much so your taxes don't affect you or may be ur CA is good enough to alter your balance sheet.
People like u will never understand some things.
You must be proud to pay income tax to government. But at the same time government must take care of taxpayers at their non productive years. There must be a system to declare you can't earn anymore due to your medical conditions. How government will know you are starving? If the tax payer base increases tax rate will go down. People earning at young age must contribute to tax, to get the required social security and food coupons at their old age
@@kashinathhegde1617 When the government can have have the data of income of a taxpayer then do u really think that goverment does not have information of the people in the country that are starving and those who does not have shelter.
Really ?
I just want to say Mr Happy Taxpayer , that , the dedication with which a government tries to recover taxes , impose taxes, bring amendments to taxes every now and then , they must show the same dedication to serving the people of the country and in every aspect and services. The poor quality 1st , 2nd and 3rd class ac trains , high toll taxes on national highways but not the corresponding maintenance and repair, corrupt policemen, corrupt itos , no proper goverment hospital like AIIMS in every state , no big govt educational institutions in every state, horrible goverment offices and registrar offfices for registering driving licences and property in states, no emergency medical services on demand on telephone and etc etc and etc.
Why do we pay hcess and ecess , for the poor quality of infrastructure in government schools. I am happy to pay taxes but I am not happy the way taxes are utilised and I am also not happy with the government taxation . Somebody who earns 15 lacs , he pays @ 30 pcent on 5 lacs ie 1.5 lacs and @ 20 pcent another 5 lacs ie 1 lac , total 2.5 lacs . Income left 12.5 lacs . Apart from this one time tax of 2.5 lacs , he pays taxes every day , gst at petrol station, at restaurant , at mobile recharge , gst on purchasing any item and services, gst while buying clothes , gst while buying electronics even pay gst while taking a lawyer or ca service , even gst on medicines for saving his health. I think after paying gst everyday for 1 year you will be left with 10 lacs . So A taxpayer earned 15 lacs a year p month 1.25 lac and now after taxes p month income reduces to 85000. Total deduction of income 30 pcent and he is left with just 70 pcent of what he earned and now with this he has to expend on his family pay home emis car emis kids schools. Just open eyes and realise that he will be left with nothing at the end and to earn this 15 lacs if he is employed in good MNC Job would take him 5 years to do so . Any many are not lucky enough to reach this 15 lacs p a in 5 years rather 10 years or may be 15 years and the question mark is what services does he get in return from government . No service or Poor service.
You are right. That's why I always feel government's job should be to oversee the administration and private players shall be allowed to run the municipality, corporation,railway and roads and hospitals.etc. Government shall strictly oversee the work done by them. It is impossible to run the country's all facility by single PM,CM,or MLA.
Excellent information. Thanks.
Thank you,imparted great knowledge ,keep it up
Thanks for the valuable information sir, please keep on updating our knowledge in the same way thanks once again.
You are welcome Devinder ji. Stay connected
Thanks for Latest updates.
Very important informative video ...! Congratulations ... Sir.!
Well.done bro ...thank you & God bless you.....be happy
Very Useful Information..👍 Thank You Sir..🙏🏽
You are welcome Shirish.. Stay connected
Send number sir
Your way of Explanation is really very very nice. Thankx dear for updating knowledge of peoples. Add SP (IPS)
Good guidance, always keep alertness.thanks
100 logo ki video dekhi par samag sirf is video se ayi
Thanks a lot Sachin.. Stay connected
Bahut hi briya thanks
Amazing bro, very very helpful and simply samjaya ha ❤️
How many videos you have uploaded ? Can u give the link?
It's good to add links of your all videos in description.
All the best!!!
When you share your knowledge more room is created in brain to store more knowledge.
God bless!!!
Niteen ji I have uploaded limited videos on CZcams but I have maintained the quality. You can visit my channel to get access to all the videos. Search "Tax Guru ji" on CZcams
@@TaxGuruJi thanks sir
@@TaxGuruJi this is true that you upload might be less videos but quality is at top
Very useful information and clear understanding.
Please make another video on current year tax slab. Also suggest various ways of investment (like 80c) for salaried persons point of view in order to save tax.
You are welcome Suraj ji. Video is already available on channel
@@TaxGuruJi phone pay Google pay insai kitne kr skti h sir ??
Thanks for your efforts and valuable information 👍
Thanks for such an important information to know more about the taxation levied upon us.
Sir aapki vedios mujhe bhot pasand hai bhot helpful bhi hai 👍
But sir next vedio me ek smile jarur karna aap😊
Very valuable information.
Most important thing that I like most is only point to point information no time pass.
During complete 10+ min talking only on topic.
Thanks.👍
Very important info; very simply put without interminable drivel. Highly recommended. Dr Sandeep Parmar
बहोत आच्छी बाते बतायी आपने
Excellent information. Appreciate your good work.
A small doubt on Shares and MF transactions.
Whether 10Lacs investment including multiple transactions across all companies and AMCs or in a single company/AMC?
Please clarify it Sir.
You are welcome Sir. As far as your query is concerned there is no clarity is given by the tax department but as per my understanding, this limit should be for an individual company/AMC.
@@TaxGuruJi Thanks for your quick and frank reply sir. If interested, please subscribe to the channel and encourage my little efforts in uploading videos on tours.
You are welcome
Yes sir
Q 1) agr kisi vyakti ke 4 saving account hai to cash limit 40lac hogi ya fir overall 10 lac . .
.
Q 2)agar kisi vyakti ko 4 alg alg jamin khridani ho to limit 30lac per jamin hogi ya fir overall 30 lac. . .
.
jisko bhi iske answer chahiye like kro. . .
jitne b savings account apke naam pr h unka total 10 lakh deposit in cash.
yhaa b total value of immovable property purchased in a year consider kara jaayga.
Overall 10
Wht a silly question bro..PAN no to 1 hi hota chahe tum 4 nahi 40 account open karo tumhari sari info ITD k pas rahegi..😊
Thank you very much sir.
Thanku very much Gaurav ji 🙏🙏
Thanks for good information, foreign se 1ya2 lakhs Remitly se aaye tu kaya income tax ko Bank msgs send karti hy? ?
What about the situation if we are breaking or maturing an FD of more than 2 lakhs to our saving account? Is there also a limit in FD maturity?
Bahut achhe se samjhaya hai aapne thanks
फारच छान माहिती
Sir I am in USA and often sending money to my mothers account in India what can be maximum limit of amount I can send to her account so that she dont need to worry about incometax dep.
Thanks Mr. Chhabriaji, very useful information by u on submission of life certificate.