Demonetisation: Heat on tax dept to prove Rs 3 lakh cr unaccounted cash

MoS finance will visit Mumbai on Monday to discuss how to take stock of unaccounted bank deposits

Determined to show the material impact of demonetisation, the Centre is nudging the income tax (I-T) department to achieve the target of establishing the source of Rs 3 lakh crore unaccounted cash deposits with banks made during the note ban.

To ensure that the target is met, Minister of State for Finance Shiv Pratap Shukla is visiting Mumbai on Monday to meet I-T officials. Sources in the know said the minister would take stock of tax collections and implementation of action plan drawn out for FY18. The minister would also discuss the causes, which could be stopping the department to