Stop misuse of Jan Dhan accounts: CBDT
After a sudden surge in cash deposits in the Jan-dhan accounts across the country, the Central Board of Direct Taxes (CBDT) on Sunday again urged the account holders not to consent to any kind of misuse of their accounts, in the wake of demonetisation.
By : migrator
Update: 2016-12-04 16:52 GMT
New Delhi
Investigations are being conducted by the Income Tax Department across India into the sudden surge in the cash deposits in Jandhan accounts, revealing various inconsistencies.
Undisclosed money of approximately Rs 1.64 cr deposited by persons, who have never filed returns of income being below the taxable limits, into their Jandhan accounts, have already been detected at Kolkata, Bihar, Kochi and Varanasi, the Finance Ministry said.
Rs 40-lakh has been seized from one such account in Bihar. Undisclosed income so detected will be brought to tax, as per the provisions of the Income Tax Act, 1961, apart from other actions depending upon the outcome of investigations, it added.
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