I-T detects â¹1 lakh cr unreported high-value transactions
The Income Tax Department has detected unreported high-value transactions amounting to â¹1 lakh crore in fiscal 2017-18, according to reports. The value of these transactions increased by over six times, compared to â¹16,240 crore in 2016-17. The number of unreported transactions detected stood at 3 lakh, which was three times higher than such transactions in 2016-17.