Income tax dept identifies 1.2 million PAN holders not filing returns

As many as 1.2 million Permanent Account Number (PAN) holders have not filed income tax returns had not filed their returns, despite making huge transactions, the union finance ministry said on Monday. The finance ministry said in a statement that it had zeroed on errant individual tax assesses, after notices were sent following the intelligence wing of the Income Tax (I-T) Department’s Directorate of Criminal Investigation sifted through nearly 4.7 crore significant financial transactions. read more

As many as 1.2 million Permanent Account Number (PAN) holders have not filed income tax returns had not filed their returns, despite making huge transactions, the union finance ministry said on Monday. The finance ministry said in a statement that it had zeroed on errant individual tax assesses, after notices were sent following the intelligence wing of the Income Tax (I-T) Department’s Directorate of Criminal Investigation sifted through nearly 4.7 crore significant financial transactions. read more

[via Stock Watch – Stock Specific News]

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