Rs 20,000 hotel bill, Rs 50,000 insurance premium may come under I-T lens

In a list of proposed measures to widen the tax base, in a tweet, government said no taxpayer should be left behind in the drive to ensure better compliance and transparency

Did you spend over Rs 20,000 on a hotel stay or took a domestic business class fight? You could well come under the income tax scanner as the government plans to widen the list of reportable financial transactions to plug tax evasion and widen the tax base.

The government proposes to include payments over Rs 50,000 on life insurance, health insurance premium payment over Rs 20,000, foreign travel and donations and payment of school/ college fees over Rs 100,000 a year in the list of Statement of Financial Transactions (SFT). Other transactions proposed to be included are purchase of white