Filing Income Tax Return is mandatory for a person who is otherwise not required to file the return if the person has undertaken the following high-value transactions during the financial year:


  1. The aggregate of deposits in current account/accounts exceeding INR 1 crore
    • Deposits in any mode such as cash, cheque or online transfer, etc. are covered
  2. The aggregate of expenditures on foreign travel exceeding INR 2 lakhs:
    • Expenditure incurred for traveling to a foreign country can be for your own travel or for any other person
  3. The aggregate expenditure towards consumption of electricity exceeding INR 1 lakh:
    • It covers only the consumption expenditure where electricity is consumed by the person concerned. 



To report such disclosures


  • In the Filing tab, navigate to ADDITIONAL DETAILS from the side nav
  • Click on Disclosure
  • Click on the tick box for the disclosure applicable
  • Enter the amount 
  • Click on Save


The 7th provision to section 139 (1) of the Income Tax Act is also applicable for any other high-value transactions or conditions prescribed by the Central Board of Direct Taxes.