Income Tax Tracking: Which Big Transactions Does Income Tax Dept Track:

Income Tax Tracking: Which Big Transactions Does Income Tax Dept Track

Understand which high-value financial transactions must be reported to the Income Tax Department and what stays private.

Know Which Transactions Are Not Tracked By I-T Dept

authorVanshika vermadateJan 13, 2026
Last update on Jan 13, 2026
Income Tax Tracking: Which Big Transactions Does Income Tax Dept Track According to Indian tax laws, if you do certain big financial transactions that go over a set amount in a year, these have to be reported to the Income Tax Department. This is done through Statement of Specified Transactions using a form called Form 61A. The major reason for this is to keep things transparent and make sure people aren’t hiding money or avoiding taxes.
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Transactions tracked by income tax department The Income Tax Department track high-value financial transactions. The following are some of the transactions:
  • Cash deposits over Rs 10 lakh in savings or fixed deposit accounts
  • Cash deposits or withdrawals over Rs 50 lakh in current accounts
  • Credit card payments over Rs 1 lakh in cash or Rs 10 lakh by other ways.
  • Property transactions worth Rs 30 lakh or above.
  • Investments in shares, bonds or mutual funds of above Rs 10 lakh
These transactions are tracked so that large sums of money don’t go unreported.
Income Tax Refund: Why Income Tax Department Hasn’t Sent Your Refund Yet
Transactions not tracked by the Income Tax Department The Press Information Bureau (PIB) cleared up a rumour that was going around. PIB clarified that Income Tax Department does not check your emails, social media, online shopping, digital payments, or personal apps. As per an official statement, the Income Tax Department does not watch your online shopping, digital payments, app transactions, or personal spending habits.

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Vanshika verma

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Vanshika Verma is a Content Writer with 1+ year of experience at Studycafe.in. A B.Com graduate from Delhi University, She writes articles on Finance, Tax, ICAI, GST, and the latest financial news, with a focus on making complex topics easy for readers and professionals.
Studycafe
Delhi, Delhi, India
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