BREAKING| Courts & SROs Must Report To Income Tax Authorities If Suits/Deeds Mention Cash Transactions Above ₹2 Lakh

The Supreme Court has directed courts and Sub-Registrar Offices (SROs) to report to income tax authorities if suits or deeds mention cash transactions exceeding ₹2 lakhs. This directive aims to enhance transparency in high-value cash transactions, particularly in property dealings and legal proceedings. By mandating this reporting, the Supreme Court seeks to assist tax authorities in tracking potential tax evasion and curbing the flow of black money. This measure strengthens the collaboration between the judiciary, property registration offices, and tax administration.