Tax Bandhan https://t.co/i1pC2LBTBf
Identify #HighValueCash #transactions at #hotels, #hospitals; pursue #arrear demands: #CBDT to I-T dept https://t.co/bzI8XNnvis
Rampant cash transactions in business sectors like hotels, luxury brand sales, hospitals and IVF clinics need to be checked in a "non-intrusive" manner, the CBDT has asked the I-T department. https://t.co/5YFIToOVOV
The Central Board of Direct Taxes (CBDT) has directed the Income Tax department to identify and monitor high-value cash transactions across various sectors, including hotels, hospitals, luxury brand sales, and IVF clinics. This initiative aims to curb rampant cash dealings in these areas, which are often associated with tax evasion. The CBDT has emphasized that the monitoring should be conducted in a non-intrusive manner to ensure compliance without causing undue disruption to businesses. In addition to tracking cash transactions, the CBDT has also instructed the department to pursue arrear tax demands.
