I-T dept asks banks to report pre-note ban cash deposits

Besides, banks have also been directed to ask account-holders who have not furnished PANs or Form 60

Seeking to analyse banking transactions in the months before the demonetisation move, the Income Tax Department has asked banks to report cash deposits in savings accounts between April 1 and November 9, 2016.

Besides, banks have also been directed to ask account-holders who have not furnished Permanent Account Numbers (PANs) or Form 60 (for those without PAN) at the time of opening the accounts to do so by February 28 this year.

According to the notification, banks, cooperative banks and post offices will have to report to the tax department all cash deposits between April 1 and November 9, 2016 — the