The Karnataka capital is on top of the total value of suspicious high-value deals. Bengaluru accounts for Rs 2,47,002 crore worth of high-value transactions in 2010-16 where Permanent Account Number (PAN) was not quoted as required under the law. However, when it comes to the number of these non-PAN transactions, Bengaluru is second, after Hyderabad.
The non-PAN transactions - pertaining to property purchases worth Rs 30 lakh and more and deposits of Rs 10 lakh and more - are being probed by the income tax department.
The I-T department (Karnataka and Goa region) is investigating as many as 2.45 lakh high-value transactions in Bengaluru conducted without citing PAN in the period 2010-16, a source in the department told TOI. However, Hyderabad has reported the highest number of such transactions - 3.06 lakh, together worth Rs 2,04,756 crore.
"What is interesting is the huge margin between the number of transactions and their value. In small cities, though the number of transactions is smaller, their value is higher," the source said.
Interestingly, Pune is second in the value of non-PAN deals, accounting for Rs 2,41,034 crore, trailing Bengaluru (Rs 1,53,479 crore). Hyderabad is third after Bengaluru and Pune in the total value of suspicious transactions.
Though Mumbai has only 1.07 lakh suspicious transactions, it stands fourth in their value (Rs 1,77,212 crore). Delhi has 1.29 lakh suspicious deals worth Rs 1,29,802 crore. The national capital has the sixth highest number of suspicious transactions and stands seventh in the total value.
Chennai has 1.39 lakh transactions with a total value (Rs 1,37,618 crore). Chandigarh occupies the fourth position in terms of a total number of transactions (1.48 lakh), but their value is less than those in Chennai, which stands fifth in the number of non-PAN transactions.
Ahmedabad has 73,537 transactions in violation of the law, but they are worth Rs 1,01,675 crore. Bhubaneswar has the lowest number of 13,527 high-value transactions without PAN.
The I-T department detected about 17.39 lakh high-value non-PAN transactions.
The total value of these deals, transacted between 2010-16, is Rs 18,06,248 crore.
About 1.50 lakh persons conducted more than one such non-PAN transaction.
Tax sleuths estimate that these transactions involved a sum of Rs 4,81,780 crore.
The non-PAN transactions - pertaining to property purchases worth Rs 30 lakh and more and deposits of Rs 10 lakh and more - are being probed by the income tax department.
The I-T department (Karnataka and Goa region) is investigating as many as 2.45 lakh high-value transactions in Bengaluru conducted without citing PAN in the period 2010-16, a source in the department told TOI. However, Hyderabad has reported the highest number of such transactions - 3.06 lakh, together worth Rs 2,04,756 crore.
"What is interesting is the huge margin between the number of transactions and their value. In small cities, though the number of transactions is smaller, their value is higher," the source said.
Interestingly, Pune is second in the value of non-PAN deals, accounting for Rs 2,41,034 crore, trailing Bengaluru (Rs 1,53,479 crore). Hyderabad is third after Bengaluru and Pune in the total value of suspicious transactions.
Though Mumbai has only 1.07 lakh suspicious transactions, it stands fourth in their value (Rs 1,77,212 crore). Delhi has 1.29 lakh suspicious deals worth Rs 1,29,802 crore. The national capital has the sixth highest number of suspicious transactions and stands seventh in the total value.
Chennai has 1.39 lakh transactions with a total value (Rs 1,37,618 crore). Chandigarh occupies the fourth position in terms of a total number of transactions (1.48 lakh), but their value is less than those in Chennai, which stands fifth in the number of non-PAN transactions.
Ahmedabad has 73,537 transactions in violation of the law, but they are worth Rs 1,01,675 crore. Bhubaneswar has the lowest number of 13,527 high-value transactions without PAN.
The I-T department detected about 17.39 lakh high-value non-PAN transactions.
The total value of these deals, transacted between 2010-16, is Rs 18,06,248 crore.
About 1.50 lakh persons conducted more than one such non-PAN transaction.
Tax sleuths estimate that these transactions involved a sum of Rs 4,81,780 crore.