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Hotel Bills above 20,000, Foreign exchange above 10 Lakh, proposed to come under tax lense

Posted : 17 August 2020 03:54:53 | By TWO Bureau | GNN Bureau

 Hotel Bills above 20,000, Foreign exchange above 10 Lakh, proposed to  come under tax lense

The income tax department proposes to keep a watch on transactions such as hotel bills exceeding Rs 20,000, transactions to include domestic business class,  travel, foreign travel, sale of foreign exchange above Rs 10 lakh. Looking to widen  the tax base and plug tax evasion all of these transactions could come under scrutiny, according to tweet from the government handlemygov.in. 






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Tags : foreign exchange, taxation, foreign travel


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