Income Tax Department India Pan Card
September 2nd, 2010Question: Can bank account seize ?
One of my friend is having saving account in one of the Nationalised bank , he had given some proof while opening the account , but he had not having PAN card & PAN card is not submitted while opening the account , but he is depositing rs 10000/-every month in the saving account & withdrawing only rs 100/- or rs 500/- every month as per his need, can any how the income tax department of India can take the action or can seize the saving account , or is that compolsury for every branch of Nationalised bank to furnish such transaction details of the account to the income tax department of India , as my friend is not interested to apply for the PAN card , can he come in problem, please reply .
I am waiting for the direction , no one had send me any ideas last 3 hours .
please reply , please reply , please reply .Answer: He can get his money back but it will be a laborious process, sorry
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