Income Tax Department will issue seven lakh letters seeking information regarding high value non PAN transactions. An official release issued yesterday, said various types of high-value transactions were being reported to the Income Tax Department under the Annual Information Returns. These include reporting of cash deposits of Rs 10 lakh or more in a savings bank account, and sale or purchase of immovable property valued over Rs 30 lakh. Many of these transactions do not have PAN linked to it. The Income Tax department has identified seven lakh high-risk clusters having around 14 lakh non-PAN transactions. These are being scrutinized closely. The Department will be issuing letters to the parties of these transactions requesting them to provide their PAN number against these transactions. The Department will initiate further necessary action in those cases where no replies are received.