High Value Transaction Notice from Income Tax Department

This was posted by Ashwani Arora on FinTalks Facebook Group on 25th March 2021.

Many of you are getting SMS and Emails from the Income Tax Department, Govt. of India, regarding the high-value transactions on your PAN account.

The message starts like this:

Attention (XXXXX1111X), the Income Tax Department has identified high value information which does not appear to be in line with the Income Tax Return filed for Assessment Year 20xx-xx (relating to FY 20xx-xx).

Here’s a poster that should give you some insights about it.

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