Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
February 23, Thursday 2017 4:02 AM       

       HEADLINES: Goon hunt: Puthen Palam Rajesh arrested; KAAPA invoked                                              Theyyam artiste falls down from coconut tree (video)                                              Major fire at Kozhikode Sweetmeat Street                                              Court remark: Vigilance’ decision turns controversial                                              Kannur lobby behind attack on actress: M T Ramesh                                              Azhar's actions well-documented: India on China's proof demand                                              India, China hold strategic dialogue                                              It's not right time to pass judgment on my captaincy: Kohli                                              Sehwag predicts 3-0 or 3-1 series win for India over Australia                                              Kaumudi Facebook
       INDIA Next Article: Modi skips yoga session to meet mother Hiraba  
       Tax evasion suspected in Rs 3-4 lakh cr deposits post note ban
 
         Posted on :15:50:00 Jan 10, 2017
   
A A
       Last edited on:15:50:00 Jan 10, 2017
         Tags: tax evasion, post note ban
 

NEW DELHI: As it analyses bank deposits post- demonetization, the government has found that an estimated Rs 3-4 lakh crore of tax-evaded income could have been deposited during 50-day window provided to get rid of junked Rs 500/1000 notes.

A senior official said Income Tax Department has been asked to scrutinize details and send notices to depositors of of Rs 3-4 lakh crore on which tax could have been evaded.

"We now have truckloads of data, analysis of which shows that more than Rs 2 lakh was deposited in over 60 lakh bank accounts post demonetization. The total amount deposited in these accounts is more than 7.34 lakh crore," he said.

More than Rs 10,700 crore cash was deposited in different accounts in the North Eastern states since November 9, he said adding the Income Tax Department and the Enforcement Directorate are looking into over Rs 16,000 crore deposited in different accounts of cooperative banks.

Also, it has come to light that Rs 25,000 cr cash was deposited in dormant bank accounts while nearly Rs 80,000 cr of repayment of loans was done in cash since November 8, 2016 when the government demonetized old 500 and 1000 rupee notes.

Holders of the old currency were given an option to exchange or deposit them in bank accounts until December 30.

"Starting from November 8, 2016 various reports were called for from the banks based on different threshold of cash deposits made by different categories of persons. The reports were collated and analysed based on intelligence which has been available in the Government data bases," the official said.

After in-depth analysis, these reports have been disseminated to Income Tax Department, the Enforcement Directorate (ED) and other Law Enforcement Agencies.

Of the 60 lakh bank accounts that saw more than Rs 2 lakh of cash deposits, more than 6.80 lakh accounts have found matches in the existing database of various reports available with Government.

"These have been flagged while disseminating to I-T Department," he said adding the details of cash deposits totalling to more than Rs 10,700 crore in different accounts in the North-Eastern states have also been disseminated.

Also, I-T Department and ED have been provided with the details of cash deposits of more than Rs 16,000 crore in different accounts of various kinds of Cooperative banks.

The deposits of more than Rs 13,000 crore in Regional Rural Banks have also been disseminated.

Besides, "cash deposits in terrorist affected states have also been disseminated to the concerned law enforcement agencies and appropriate actions have been taken in such cases," he said.

The official said cash deposits of Rs 2 lakh to Rs 2.5 lakh per account, totalling to Rs 42,000 crore, are found to have common PAN, mobile number or address. The same would be looked into in detail by the Income-Tax Department.

A A
       INDIA
Next Article: Modi skips yoga session to meet mother Hiraba
 
 
INDIA HEADLINES
Azhar's actions well-documented: India on China's proof demand  
Oppn slams KCR's Rs 5 cr gold offer to Lord Venkateswara  
Wanted Mallya appears in UK for launch of F1 car  
Telangana CM offers Rs 5cr gold ornaments to Lord Venkateswara  
Kambala bill sent to President for assent  
Man gets Rs 2,000 notes with 'Children Bank Of India' written on them frm ATM  
Industries to be shut for want of effluent treatment plants: SC  
I-T to go easy on up to Rs 5 lakh deposits by 70-plus people  
DMK working chief Stalin, cadres sit on fast  
No plans to introduce Rs 1000 notes: Shaktikanta Das  
Rahul-Akhilesh, Shah hold road shows in Allahabad  
Govt invokes emergency clause to maintain stents production  
Gujarat BJP fumes at Akhilesh's 'insult', says donkeys are loyal unlike him  
Jio crossed 100-mn subscribers mark in just 170 days: Ambani  
Raj MLA, husband, others booked for thrashing policeman  
Sengottaiyan to lead Jaya's 69th birthday celebrations  
Bus catches fire near Bengaluru, one killed  
Kolkata man who lived with sister's corpse dead  
Hauz Khas village rape case: One held  
Sasikala to serve 13 more months in jail if fine is not paid  
CBI arrests IRS officer for bribery in IPL-betting scam  
BSF foils infiltration bid, militant killed  
3-yr-old murdered in Chennai; body found in garbage yard  
India can develop space station, says ISRO chief  
Swear by 'Ganga Maiyya' on power supply issue: Akhilesh to PM Modi  
 
Do you suspect any actor's role in a recent attack against an actress?
Yes
 
No
 
Don't know
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy