Query related to notice frm deptt. regarding submission of pan

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pankaj agrawal (Querist)
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22 September 2013 I have got a notice from itd regarding submision of pan as they have got lettre from bank as the transaction in saving bank account have exceeded to 6000000 in a financial year so I am confused what to do as this account has nevr been shown in the itr so help me out as soon as prblm.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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22 September 2013 Dear Pankaj,

Most probably you account must have been flagged in Annual Information Report.

if the transactions in your saving bank account include any income not disclosed in your tax returns, then it would amount to concealment of income and tax evasion. The penalties shall follow accordingly.

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