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Govt suspects tax evasion in Rs 3-4-lakh crore deposits after note ban

As it analyses bank deposits after demonetisation

cash, protest, currency, demonetisation, black money, ATM, banks, rupee, notes
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Press Trust of India New Delhi
As it analyses bank deposits after demonetisation, 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 500/1,000 notes.

A senior income-tax official has been asked to scrutinise details and send notices to depositors of Rs 3-4 lakh crore 
on which tax could have been evaded. “We now have trunkloads of data, analysis of which shows more than Rs 2 lakh was deposited in over six million bank accounts after demonetisation. The total amount deposited in these accounts is more than Rs 7.34 lakh crore,”

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