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» » Over 40 lakh heavy spenders under tax scanner

Over 40.72 lakh high-value spenders are under the scanner of the income tax department which plans to check potential evasion instances before the closing of the financial year on March 31.According to data, the department has information on 40,72,829 persons who had made cash deposits amounting to Rs 10 lakh or more in their saving bank accounts in the current fiscal."With technical solutions at the department's disposal, there is a lot of information that is readily available to the authorities."We just want to send the across the message that nothing in clandestine and the department would get to know every transaction especially high value ones," a senior I-T department official said.

Source : http://www.financialexpress.com/news/over-40-lakh-heavy-spenders-under-tax-scanner/1226553

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