Taxman unearths undisclosed amount worth Rs. 1.64 crores from Jan Dhan accounts

New Delhi [India], Dec. 2 : The Income Tax Department on Friday seized more than Rs. 1.64 crore undisclosed money deposited into the Jan Dhan accounts across nation. These accounts were detected at Kolkata, Midnapore in West Bengal, Ara in Bihar, Kochi and Varanasi, while Rs.

40 lakh, alone, was seized from one such account in Bihar. The investigations were conducted by the department after detecting a sudden surge in cash deposits in the accounts which later revealed various inconsistencies.

"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 department stated in its official press statement.

The department also urged the Jan Dhan account holders to be wary of such activities and asked them not to consent which may lead to misuse of their accounts.

"The Central Board of Direct Taxes, once again urges the account holders not to consent to any kind of mis-use of their accounts which would expose them to the dangers of being held responsible for the tax evasion by unscrupulous elements," it said.

Source: ANI