Big transactions without PAN under I-T scanner

The Income-Tax department has identified 1,000 high-value transactions in Gujarat where individuals have hidden details of their Permanent Account Number in their Annual Information Returns of financial transactions exceeding Rs 30 lakh.

“We have identified about 1000 high-value transactions and started sending them notices after verifications. If they don’t reply with detailed information about why PAN is missing,we will survey them or take further action,” said I-T officials.