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Strict Action against Tax Evaders using other persons Bank Accounts to convert their Black Money into New Denomination Notes;

News and Press Release - Dated:- 18-11-2016 - Strict Action against Tax Evaders using other persons Bank Accounts to convert their Black Money into New Denomination Notes; Person(s) who allows His Or Her Bank Account to be misused for this purpose can be Prosecuted for Abetment under Income Tax Act; Government appeals to people NOT to come in the Lure of Black Money Converters and be a Partner in this Crime of Converting Black Money into White through this method and help join the Government in .....

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ir accounts to be used. This activity is reported in case of Jandhan Accounts also. It is hereby clarified that such tax evasion activities can be made subject to income tax and penalty if it is established that the amount deposited in the account was not of the account holder but of somebody else. Also the person who allows his or her account to be misused for this purpose can be prosecuted for abetment under Income Tax Act. However, the genuine persons having their own household savings in cas .....

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