Notices to 500 account holders for huge deposits
The city Income Tax Department has issued notices to 500 bank account holders in areas under its jurisdiction for large cash deposits into their accounts after the announcement of demonetisatio
Pune: The city Income Tax Department has issued notices to 500 bank account holders in areas under its jurisdiction for large cash deposits into their accounts after the announcement of demonetisation.
While 500 notices have already been issued in the last 15 days, 2,500 notices are to be issued in the coming few days.
Speaking to Sakal Times, highly placed sources from the city-based Income Tax Commissionerate said that they have so far come across 3,000 accounts with large cash deposits after November 8.
“These accounts are under the scanner after scrutiny of information received about one crore bank accounts, including Jan Dhan accounts. Notices to 500 such account holders have already been served and the other 2,500 will be served in the coming four to five days,” sources said.
The sources further said that the action is set to intensify and the number of notices will rise once they receive more information about cash deposits from the city banks. “We have still not got information from all the banks about the cash deposits made after November 8, 2016. We have set a deadline of January 31 for the banks to provide us with complete data regarding the cash deposits. On scrutiny of these details, further action will be initiated,” the sources added.
The banks had been set a January 31 deadline since they were tied up with the exchange of currency notes until December 30.
Any deposits of over Rs 2.5 lakh in a savings bank account and Rs 12.5 lakh in the current account are under the scanner of the I-T dept. According to the officials, these deposits may not necessarily be one time deposits. “Even if people have de