High-Value Transactions

High-Value Transactions – High-value transactions refer to financial transactions of significant amounts that are closely monitored by tax authorities to prevent tax evasion, money laundering, or financial fraud. These transactions can include large cash deposits, property purchases, stock trades, and bank transfers exceeding certain thresholds defined by regulatory authorities. The Assessment Year (AY) is the year in which income earned during the preceding Financial Year (FY) is evaluated and taxed. Income arising from or related to high-value transactions during a FY must be reported and assessed in the corresponding AY.

Example: If a taxpayer conducts large stock trades or receives substantial deposits in FY 2022–23 (1 April 2022 – 31 March 2023), these are reported and assessed in AY 2023–24