CBDT urges Jandhan account holders not to allow misuse of their accounts

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New Delhi: Investigation being conducted by the Income Tax Department across India into the sudden surge in cash deposits in Jandhan accounts  have revealed various inconsistencies. Undisclosed moneys of approximately Rs1.64 crore 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 (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.The Central Board of Direct Taxes (CBDT) has once again urged the account holders not to give their 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, according to a PIB release.