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Income Tax Department to issue 7 lakh letters seeking Information in respect of High Value Non PAN Transactions

News and Press Release - Dated:- 21-7-2016 - Under the Annual Information Returns (AIR), various types of high-value transactions were being reported to the Income Tax Department. These include reporting of cash deposits of ₹ 10,00,000 or more .....

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016-17. The Income Tax Department has with the help of in-house computer techniques, grouped such non-PAN transactions and identified 7 lakh high-risk clusters having around 14 lakh non-PAN transactions which are being scrutinized by the Income Tax D .....

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ionality on e-filing portal has been developed wherein they can own up transactions and provide structured response electronically. The parties can log-in to their e-filing website and by quoting a Unique Transaction Sequence Number provided in the l .....

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