GOVERNMENT LEAVING NO STONE UNTURNED BANK FD’S TOO TO COME IN RADAR OF IT OFFICIALS

 New Delhi: The current government is leaving no stone unturned in its effort to make the tax net more wide in the county. According to a recent TOI report, those who earn more than Rs.5 lakhs from their fixed deposits would come under the radar of income tax authorities. The income tax department is all set to closely monitor their bank accounts and will investigate those who are not paying taxes even after having huge amounts in their fixed deposits.

Even the accounts of senior citizens whose income from interest on fixed deposits is not considered in their taxable income or do not file tax returns at all will also be monitored as per senior officers in the Central Board of Direct Taxes (CBDT).