With latest feature, the Income Tax department can now track all your high cash transactions in all your bank accounts. Income tax payers can also check for any high value transaction from his account at the Income tax website.
- Once you login with your PAN number and password
- Click on Compliance tab from the header
- Dropdown will show all the transaction services
- Click on "Accounts with cash transaction"
Individuals who are not much into cash transaction, there account will show "No records found for this PAN".
The tax department will be able to track all bank accounts as they will be linked to your PAN number and banks are instructed to report all transactions which are above a certain threshold.
Permanent Account Number (PAN) is mandatory for most of the transaction, including when you deposit cash at a bank.
Also individuals can keep a tab on all his accounts, and report of there is any transactions which he is not aware.
At the new Compliance window, tax payers can view and submit compliance if any, can check Non-PAN transaction, view response to Non-PAN transaction and check accounts with cash transactions.