20 Year Old Student Receives Income Tax Notice for ₹35 Crore Bank Transaction
If you don't have any type of connection with the transactions involved or with notice, immediately inform the nearby police station
A 20 - year old college student received income tax notice for Rs. 35 crores bank transactions in the past 8 months. However, after investigation, two men were arrested for misusing the student’s documents. The young student, unaware of any such financial activity in her name, promptly approached the local police station, carrying the income tax notice that accused her of massive...
A 20 - year old college student received income tax notice for Rs. 35 crores bank transactions in the past 8 months. However, after investigation, two men were arrested for misusing the student’s documents.
The young student, unaware of any such financial activity in her name, promptly approached the local police station, carrying the income tax notice that accused her of massive GST liabilities. Upon inquiry, the student firmly denied any knowledge of the transactions, asserting that she had never engaged in any business or financial dealings of such scale.
Following her complaint, a deeper inquiry by the officials revealed a harrowing fraud. It was revealed that two of them had been misusing private documents, like Aadhaar and PAN cards, gathered from innocent job seekers, including the student, reported Times of india.
Also read: No Income Tax Assessment Beyond 10-year limit u/s153A: ITAT favours Assessee
The scamsters tempted victims with offers of jobs and misused their identities to create bank accounts and undertake huge transactions in financial services, thus channelling enormous amounts under fictitious names.
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The police moved quickly, arresting the two men behind the plot. A raid on their offices resulted in the confiscation of substantial evidence such as 204 SIM cards, 115 bank passbooks, 271 debit and credit cards, andlaptops, cash, and other digital equipment suspected to be utilized in carrying out cybercrimes.
What to do when you receive such Tax Notices
Do not Ignore Tax Notice
Tax notices are formal legal communications, and it is important to reply to them in a timely and proper manner. Although getting such a notice may cause shock, one should not panic. In case one has not committed any illegality and has the relevant documents or proof required to prove one's case, the issue can be resolved quite easily with the revenue authorities. Proper communication and prompt action are most important to resolve the issue effectively.
Check the Notice Details Carefully
When you receive a tax notice, the first step is to verify all the personal details, such as your PAN, name, assessment year, and other identifiers, to ensure they are accurate and match your official records.
Next, try to understand the specific reason why the notice has been issued. The demand involved. If you don't have any type of connection with the transactions involved or with notice, immediately inform the nearby police station.
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Also read: Madhya Pradesh HC Warns DRI for Contempt Over Frozen Accounts Despite Stay
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File Police Complaint
If you think that your documents like PAN or Aadhaar have been misused especially in cases where you’ve received a tax or GST notice for transactions you had no knowledge of, it is important to take immediate measures.
The first step is to lodge a complaint either at your nearest police station or through the official Cybercrime Portal of the Government of India at https://cybercrime.gov.in. When filing the complaint:
- Clearly state that your documents were used without your consent, and you are not involved in any of the financial activities flagged by the Income Tax Department or GST authorities. Also, attach a copy of the notice you received from the tax authorities.
- Include any supporting documents such as job applications, emails, or records of interviews where you may have shared your Aadhaar, PAN, or bank details. This helps establish that your data might have been obtained through fraudulent recruitment practices or scams.
- Request the registration of a First Information Report (FIR), especially if large-scale financial misuse is suspected.
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