With no floor defined, your deposit may draw income tax notice

Short resume:

cash
80%
deposits
60%
return
40%
scheme
40%
With no floor defined, your deposit may draw income tax notice

MUMBAI: The taxman may be within his rights to slap notices and demand 60% tax on all cash deposits made in banks since April this year as recent amendments to the Income Tax Act do not specify any threshold for scrutiny on cash deposits, say industry …
Source Economic Times
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