I saw a series of advertisements by Department of Income tax in newspapers making people aware of “How Income Tax department can catch you – if you are doing some high value transactions and don’t declare it.”
I guess IT department is going hi-tech and hope they are doing good analytics to get hold of the defaulters.
Here are some numbers published in the below advertisements…
- 33,21,695 people acquired Mutual Fund Units (of Rs 2 lakh or more)/ Bonds or Debentures (of Rs 5 Lakh or more)/ Shares issued by a Company (of Rs 1 Lakh or more) or Bonds issued by RBI (of Rs 5 lakh and more) during the financial year 2009-10 and 2010-11.
- 6,23,384 persons who purchased or sold their house property worth Rs 30 Lakh or more in the financial year 2009-10 and 2010-11
- 15,23,728 people who made payments of Rs 2 lakh or more against their credit cards in the in the financial year 2009-10 and 2010-11
- 27,50,545 people who made cash deposits aggregating to Rs 10 Lakh or more in their savings Bank account during the financial year 2009-10 and 2010-11
