New Delhi, May 15 -- A sudden, unforeseen credit message for a large deposit to your bank account can initially feel like a pleasant surprise and unexpected income. But remember, acting on it without proper due diligence and caution can quickly turn the credit into a tax headache.

Given that such transfers are often simple financial errors due to banking mistakes or technical issues, if you fail to report the problem or return the funds as per established rules, you may invite intense scrutiny from tax authorities, which could lead to the funds being categorised as unexplained income.

Says CA Chandni Anandan, Tax Expert at ClearTax, "If you receive funds erroneously, refrain from using them. Promptly notify your bank and the remitter, r...