Why Making High Value Cash Deals Could Put You At Risk Of Income Tax Notices

Handling large amounts of money in cash may appear convenient, but it comes with serious risks. Authorities closely monitor big cash transactions, and crossing the prescribed limits could trigger heavy penalties. According to experts, the Income Tax Department imposes strict checks to curb black money and tax evasion, and individuals engaging in such practices may face not only notices but also financial penalties equal to the amount exchanged.