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Jan Dhan Account Holders under scanner
By: Tupaki Desk | 19 Nov 2016 6:44 AM GMT
Union Government cautioned Jan Dhan account holders about the possibility of being prosecuted under Income Tax Act if their bank accounts were used for conversion of Black Money.
Upon receiving complaints on the misuse of Jan Dhan accounts, Centre has come up with this directive. It came to the notice that Black Money holders were luring people with Jan Dhan Accounts with commissions for depositing the unaccounted money.
Actually, Only Rs 50,000 were permitted to deposit in a Jan Dhan account. After November 8th, Account holders have been depositing up to Rs 2.5 lakh by taking advantage of the limit. However, Finance Ministry made it clear that action will be taking if black money was deposited in Jan Dhan accounts between Nov 9th to Dec 30th. The account holders who was found of misuse will be prosecuted and have to pay penalty. In addition, They wouldn't receive benefits of Government-sponsored schemes.
Upon receiving complaints on the misuse of Jan Dhan accounts, Centre has come up with this directive. It came to the notice that Black Money holders were luring people with Jan Dhan Accounts with commissions for depositing the unaccounted money.
Actually, Only Rs 50,000 were permitted to deposit in a Jan Dhan account. After November 8th, Account holders have been depositing up to Rs 2.5 lakh by taking advantage of the limit. However, Finance Ministry made it clear that action will be taking if black money was deposited in Jan Dhan accounts between Nov 9th to Dec 30th. The account holders who was found of misuse will be prosecuted and have to pay penalty. In addition, They wouldn't receive benefits of Government-sponsored schemes.
