I-T dept sends notices to over 700 a/c holders in Noida

In a serious concern for people with unaccounted money in their banks, the Income Tax Department has sent notices to over seven hundred account holders of various banks in Noida as their account details showcase that they have made transactions up to four crore rupees during Demonetisation.

The I-T department has taken up the bank statements and details of the account holders. Many of these accounts are suspected to have transferred the money through illicit ways.

The account holders have been sent notices via e-mail and written letters. "If they fail to respond within one week, another notice will be sent, following which immediate actions will be taken out against them by the I-T department", said an official of the department.

In a meeting held at Income Tax Office, T Tonsing Prasad, Principal Commissioner of I-T, Noida said, "Notices to all suspected account holders have been sent. If they do not reply to the notice, penalty and immediate actions will be taken against them."

Prasad also stated that they are trying to make people aware of the Pradhan Mantri Garib Kalyan Yojana(PMGKY), under which any person with a large amount of undisclosed income can deposit the money in the accounts belonging to PMGKY.

"In that case, no enquiry will be initiated against them, unless those who are involved in investigation and survey will be penalised and legal actions will be taken against them," added Prasad.

Under PMGKY, a person can directly go to the I-T department and collect the form to declare his/her unaccounted income.

The account number and bank's name should also be mentioned in the form, which will later be deposited to the I-T department post filling.