The tax net just got a little wider

• Payment for Mutual Funds of Rs 50,000 or more

• Payment for shares worth Rs 50,000 or more

• Payment for bonds or debentures worth Rs 50,000 or more

• Payment for RBI bonds worth Rs 50,000 or more

Banks, registrar, mutual funds will now watch high value transactions like:

• Purchase or sale of property above Rs 30 lakh

• Savings above Rs 10 lakh

• Credit card transactions above Rs 2 lakhs

• Investments of more than Rs 2 lakh in Mutual Funds

• Transaction of more than Rs 1 lakh in shares bought in IPO or rights issue

• Purchase of debentures and bonds of companies worth Rs 5 lakh or more

• Purchase of RBI bonds of more than Rs 5 lakh in a year