Strict Action against Tax Evaders using other persons’ Bank Accounts to convert their Black Money into New Denomination Notes;

Strict Action against Tax Evaders using other persons’ Bank Accounts to convert their Black Money into New Denomination Notes; https://www.taxtmi.com/news?id=16867 Deposits proved to belong to someone other than the account holder will be treated as tax-evasion proceeds subject to income tax, penalties and seizure, and the person who allows misuse of his or her bank account may be prosecuted for abetment under the Income Tax Act; genuine small household cash deposits will not be questioned and the public is urged to report suspected illegal deposit schemes so authorities can take immediate action. en-us Fri, 18 Nov 2016 17:15:32 +0530 Fri, 18 Nov 2016 17:15:32 +0530 TaxTMI RSS Generator Strict Action against Tax Evaders using other persons’ Bank Accounts to convert their Black Money into New Denomination Notes; https://www.taxtmi.com/news?id=16867 Deposits proved to belong to someone other than the account holder will be treated as tax-evasion proceeds subject to income tax, penalties and seizure, and the person who allows misuse of his or her bank account may be prosecuted for abetment under the Income Tax Act; genuine small household cash deposits will not be questioned and the public is urged to report suspected illegal deposit schemes so authorities can take immediate action. News - Fri, 18 Nov 2016 17:15:32 +0530 https://www.taxtmi.com/news?id=16867