Central Board of Direct Taxes (CBDT) has urged Jan Dhan account holders not to consent to any kind of misuse of their accounts. An official statement said, tax investigations into the sudden surge in cash deposits in Jan Dhan accounts have revealed various inconsistencies. <br/><br/>Undisclosed money of approximately 1.64 crore rupees 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, Midnapore, Ara, Kochi and Varanasi. 40 lakh rupees have been seized from one such account in Bihar. <br/><br/>Undisclosed income so detected will be brought to tax as per the provisions of the Income Tax Act, apart from other actions depending upon the outcome of investigations.
News On AIR | December 4, 2016 2:19 PM
Taxmen find Rs 1.64 cr undisclosed income in Jan Dhan accounts: CBDT