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Micro Daily Paytm Transfers: Nowadays we all keep making small payments through Paytm, Google Pay or PhonePe, sometimes ₹ 200 to the tea vendor, sometimes ₹ 300 to the vegetable vendor.
This has become so common that we do not even think that any record of this is being made. But now the question arises whether the Income Tax Department keeps an eye on such small amounts?
Suppose you send Rs 300 to someone every day. In a month it becomes Rs 9,000, and in a year it becomes more than Rs 1 lakh. If this payment is being made in exchange for any service, such as tuition, freelance work, or a small business, then it can be considered as your income. If your total income comes under the tax bracket, then it is necessary to show it in ITR.
How does the Income Tax Department catch you?
The data of your bank and UPI apps can reach the Income Tax Department through NPCI and banks. If the pattern of transactions is frequent and large, then the department can investigate where the money is coming from and why. The amount of ₹ 200- ₹ 300 may be small, but if it is happening daily, then it can come under notice.
If your total income is below the tax slab, and these payments are only for expenses, like household items, food items, then there is nothing to worry about. But if you are getting money from Paytm or Google Pay after doing some work, then it would be right to show it as income.
The Income Tax Department now not only looks at transactions worth crores, but also looks at where the money is coming from and how many times it is coming. Therefore, if you use digital payments, it is wise to provide all the information honestly while filing ITR.
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