The Department of Income Tax is set to use the latest technology to detect fake PAN cards.
An electronics-based latest technology has been discovered to detect faker PAN cards.
This technology has been named ‘ITBA’ (Income Tax Business Application).
The Department of Income Tax will be using this technology.
Until now, only experience officers in this field were used to detect fake PAN cards.
However, an officer informed that the latest technology can help precisely detect the fake PAN cards.
The old PAN cards will be detected by the officers.
Income Tax Department has ordered to investigate whether some of the organisations have used 2 PAN cards to evade Income Tax payment.
It has been found that several frauds have been committed using fake PAN cards involving tax evasion and maloperations with black money.
It has already been insisted by the government that the individuals using fake PAN cards should come forward to surrender the same to the concerned officers.
The Department of Income Tax has severely warned that failure to surrender the fake PAN card will entail will lead to the detection of these individuals with fake PAN cards and stringent legal action.
As per the latest statistics, 24.37 Crore persons are using PAN cards.
However, there are no reliable statistics about how many fake PAN cards are in circulation.
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