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Government warns Jan Dhan holders against misuse of account

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Web Admin

5 Dariya News

New Delhi , 04 Dec 2016

After a sudden surge in deposits in Pradhan Mantri Jan-Dhan Yojana accounts showed up various inconsistencies, the government on Sunday again cautioned such account holders not to allow their deposits to be misused in the wake of the November 8 demonetisation move."Investigation being conducted by the Income Tax Department across India into the sudden surge in cash deposits in Jan Dhan accounts have revealed various inconsistencies," a Union Finance Ministry release here said. "Undisclosed moneys of approximately Rs 1.64 crore deposited by persons who have never filed returns of income being below the taxable limits, into their Jan Dhan accounts have already been detected at Kolkata, Midnapore, Ara (Bihar), Kochi and Varanasi."Rs. 40 lakh has been seized from one such account in Bihar," it said "Undisclosed income so detected will be brought to tax as per the provisions of the Income Tax Act, 1961, apart from other actions depending upon the outcome of investigations," it added. Meanwhile, Prime Minister Narendra Modi has urged Jan Dhan account holders to hold on to the black money deposited by elements seeking to launder ill-gotten wealth."I want to tell holders of Jan Dhan accounts that they should not withdraw this money. Write to me if someone intimidates you. I am trying to figure out how it (the money) can come to you," Modi said on Saturday at a public meeting in Moradabad, in Uttar Pradesh.Over 25 crore Jan Dhan accounts for financial inclusion have been opened in the country as on November 25 last.

 

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