<h1>Income-Tax Dept. Finds Rs.2,700 Crore Discrepancy in Tamil Nadu Bank; Focus on SFTs and Form 61B Compliance.</h1> The Income-Tax Department is enhancing voluntary compliance by verifying financial transaction reports from entities like banks and forex dealers. A recent verification of a prominent Tamil Nadu bank revealed significant discrepancies, including unreported cash deposits over Rs.2,700 crore, credit card payments over Rs.110 crore, and other major transactions. The bank also failed to file complete Statements of Specified Financial Transactions (SFTs) and Form 61B for international account holders. Similar issues were found in two cooperative banks in Uttarakhand. The department is conducting outreach programs to clarify legal obligations and improve compliance processes for reporting entities.