Central Board Direct Taxes(CBDT) urges jan dhan holders to reject misuse of accounts

 

After probe revealed a sudden surge in such deposits revealing various inconsistencies

Account holders once again urged by Central Board of Direct Taxes not to consent to any kind of misuse of their accounts which would expose them to the dangers of being held responsible for the tax evasion by unscrupulous elements.

Investigation being conducted by the Income Tax Department across India into the sudden surge in cash deposits in jan dhan accounts have revealed various inconsistencies. Undisclosed moneys of approximately Rs.1.64 crore deposited by persons, who have never filed returns of income being below the taxable limits, into their jan dhan accounts have already been detected at Kolkata, Midnapore, Ara (Bihar), Kochi and Varanasi

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.