The Central Board of Direct Taxes (CBDT) has directed the Income Tax department that the investment

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The Central Board of Direct Taxes (CBDT) has directed the Income Tax department that the investments made by people who collected and examined, particularly to large expenses, which do not tax these deals while or who have not given their PAN number . Directed the Income Tax department for special campaign will run from January 20 until 20 March.
The transaction amount will come under special operations officer who visited the premises and can learn the source of their income. star advertiser The campaign much in the transfer of funds, property, vehicles, shares star advertiser and bonds purchases, post office and bank deposits are included.
In this connection, the release said the Ministry of Finance issued determinants such large sums invested in deposits and will give details of the source of expense and income tax returns also will tell whether star advertiser they were referring to. In some cases, the official said Nivskon, investors or those looking to spend raids on the premises. The two-month long-running tax collection is expected to grow from the campaign and the government's fiscal deficit is expected to be somewhat lower. The government estimated in the budget for the current fiscal year, the fiscal deficit star advertiser will be 4.6 per cent.
The amount of transfer tax department said more information or to take punitive action will be PAN. In case you do not have proper were not paid, that amount may be charged star advertiser a penalty of 300 per cent. In some cases, legal action can be initiated. Details of the transaction who did not amount to much, they will have to pay tax arrears and current year income tax return shall be filed within March 31, 2012.
Please tell the tax department in July 2011 and five million or more are required star advertiser to present a PAN card to buy jewelry made. The purpose of this initiative large transaction is to keep an eye on. 50,000 or more a year for life insurance premiums must also mention the pan. In addition to the five million star advertiser or more purchase of real estate - sales, purchase of motor vehicles other than two-wheelers - sales of more than Rs 50,000 deposited in banks but also is essential to the pan. Telephone connections simultaneously, opening bank accounts, hotel and restaurant bills of over Rs 25,000 and mutual fund investments of more than Rs 50,000 PAN card is mandatory.
Significantly, the budget Tagged with: CBDT, Finance Ministry, Income tax Department, PAN card, return, special drive, Income Tax Department, Pan card, returns, Ministry of Finance, Special Operations, CBDT
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