Finance
DeluluTax Squad Alert: SFT Is Sniffing Out Your Cash Moves
Alright, fam! The tax squad is on your case! High-value moves like cash drops and property splurges are getting reported through the Statement of Financial Transaction (SFT). If your money game doesn't match your income, prepare for some awkward tax notices. So, keep it real and make sure your cash vibes are legit!
few days ago | Amit Kumar
Quick rundown
1.High-value transactions are now automatically reported to tax authorities.
2.SFT framework ensures transparency in financial dealings.
3.Transactions above certain limits trigger mandatory reporting.
4.Joint accounts are reported against all holders.
5.Align financial activities with declared income to avoid tax notices.
