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7 Lakh Tax Notices Being Sent: Who Is Likely To Receive Them
7 lakh people to get notices about high-value transactions Tax notices being sent to those who did not use PAN number Under scrutiny: cash deposits of more than 10 lakhs in accounts
21 Jul 2016, 08:47 PM IST 
Tax notices being sent to those who did not use PAN number for high-value transactions
In its attempt to uncover black money and tax defaulters, the government is sending out 7 lakh notices on big transactions which appear dodgy because PAN numbers were not disclosed. A 10-digit unique PAN number assigned to individuals helps income tax officials track their financial transactions.
The Department will be issuing letters to the parties of these transactions requesting them to provide their PAN number against these tra...
