The government wants banks, insurance firms, jewellers and others to report 11 transactions to the income tax department. In a move to catch tax evaders, the government wants disclosure of certain transactions, not by the tax payer but by the firms they deal with. Will this nudge the unwilling to pay their taxes? In this special series of Money with Monika, personal finance expert Monika Halan explains how the new notification works. Watch the full episode for Monika Halan’s advice. Monika Halan is consulting editor, Mint, and author of the book ‘Let’s Talk Money’.
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