Persons whose tax profiles not match with cash deposits made in bank during the demonetization period identified-Operation Clean Money
Ministry of Finance
PIB Press Release dated 10/03/2017
ITD has identified 17.92 Lakh persons whose tax profiles were not in line with the cash deposits made by them during the demonetization period.
As part of the initial phase, the ITD has sought online response as per pre-defined parameters on source(s) of cash deposited by17.92 Lakh persons through its e-filing portal.
More than 12 lakh responses have been received from 8.38 lakh distinct PANs/persons which are under verification. In case explanation of source of cash is found justified, the verification is closed. The verification is also closed if the cash deposit is declared under Pradhan Mantri Garib Kalyan Yojna (PMGKY).
Appropriate action in non-compliant cases is taken as per law, which includes searches, surveys, assessment of income, levy of taxes, penalties, etc. and filing of prosecution complaints in criminal courts, wherever applicable.
This was stated by Shri Santosh Kumar Gangwar, Minister of State in the Ministry of Finance in written reply to a question in Lok Sabha today.
Invitation For Empanelment Of Practising Chartered Accountants / Chartered Accountant Firms Forest Development Corporation of Maharashtra Limited (FDCM Limited), Nagpur,…
Press Registrar General of India (PGRI) invites application for empanelment of Chartered Accountants. The Press Registrar General of India manages…
CBDT notifies revised Form No. 169 for making application for registration as a valuer under section 514 and authorised income…
Curtailing time to file reply to notice u/s 148A(b) from statutorily available 30 days to 15 days seriously prejudiced assessee’s…
At the stage of registration u/s 12AB, the CIT(E) not empowered to adjudicate applicability of provisio to section 2(15) of…
Flower bed area could not be included in the definition of “built up area” to calculate eligible limit of 1000…