Black money: Govt identifies 9 lakh special transactions

NEW DELHI: The government has identified 900,000 pieces of information pertaining to suspicious transactions undertaken by individuals whose tax records do not match

NEW DELHI: The government has identified 900,000 pieces of information pertaining to suspicious transactions undertaken by individuals whose tax records do not match with the transactions.

HT Image

Chairman of central board of direct taxes (CBDT) Atulesh Jindal said on Monday that the department will issue letters asking these possible tax evaders the transaction trail.

“Over 100,000 transactions which are worth over ₹1 crore each. In case of evasion, taxpayers can avail the benefit under income declaration scheme (IDS),” Jindal said. “In case they do not, then the department will take further actions.”

The CBDT also has made the process of getting a PAN card paperless. “The verification documents can now be uploaded online,” Jindal said.

Individual verifications will happen through Aadhaar-based e-signatures and for companies digital signatures certificates.