5 Things You Shouldn't Be Hiding From Income Tax Department
5. Purchasing Of Mutual Funds
Companies which deal into Mutual Funds are required to file annual information by the customer, if the units purchased by him are more than 
2 lakhs in that financial year, he will have to report that excess amount to the Income Tax Department. The IT Department knows about the investments made by a particular person in that financial year. Thus, always ensure that you disclose your source of income through which Mutual Funds were purchased.
