If a person does a high-value cash transaction, he is likely to get a notice from the Income Tax Department. 
Banks, mutual fund houses, brokers, and property registrars are involved in various cash transactions. Always inform the Income Tax Department if the value of high-value transactions exceeds a certain limit.
The Income Tax Department has tied up with several government agencies to obtain financial records of individuals who conduct high-value transactions but do not file tax returns.
