Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes

New Delhi, 02 December, 2016.

PRESS RELEASE

Sub : Income Tax Investigations Unearth Mis-use of Jan-Dhan Accounts

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Tax Investigations unearth mis-use of Jan-Dhan Accounts; Account holders once again urged by CBDT 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.

Investigation being conducted by the Income Tax Department across India into the sudden surge in cash deposits in Jandhan accounts have revealed various inconsistencies. Undisclosed moneys of approximately Rs.1.64 Crore deposited by persons who have never filed returns of income being below the taxable limits; into their Jandhan accounts have already been detected at Kolkata, Midnapore, Ara(Bihar), Kochi and Varanasi. Rs. 40 Lakh has been seized from one such account in Bihar. 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 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.

(Meenakshi J. Goswami)
Commissioner of Income Tax

(Media and Technical Policy)

Official Spokesperson, CBDT.

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Category : Income Tax (25148)
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Tags : black money (686) Demonetization (464)

7 responses to “Income Tax Investigations Unearth Mis-use of Jan-Dhan Accounts”

  1. S .K. Bakliwal says:

    In my view the account holder be allowed to enjoy interest amount

  2. S .K. Bakliwal says:

    In my view the account holder be allowed to enjoy interest & amount deposited after
    8.11.2016 should be freezed by Govt of India
    Till the source of funding not proved

  3. RAJAGOPAL says:

    Income tax should investigate the persons behind these deposits instead wasting time chasing these people. Most of these people may not be knowing whose money had been deposited in their account. Better to freeze till IT gets proper account for these deposits.

  4. V S TANEJA says:

    JAN DHAN YOJNA WITH PROVISION OF ZERO BALANCE WAS DESIGNED AND CREATED FOR THIS DAY. EVERY BODY SHOULD BE HAPPY THAT IT HAS MET THE OBJECTIVE IN FULL

  5. venkatramana says:

    To encourage poor people to open bank account only ,the opening balance in the account was allowed to be ZERO.Under such circumstances how te account holder was able to show balance dis proportionate to the status.So, the account holder is not entitled for any benefit from Government like low interest loan/subsidy etc .Not only that,being a abetter of the crime action to be taken against him/her and the amount standing to the credit of the account must be freezed.

  6. Namjoshi. says:

    PM Modi has no jurisdiction to distribute money deposited in Jan Dhan Yojana to those who are holders of these accounts. Like any ordinary man, the holders of such yojana will have to disclose the source of money came in such accounts and unless it is shown and proper tax is not paid the amount should be forfeited.

  7. GAUTAM PRADHAN says:

    It must be 1.64 lakh crore

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