I-T lens on half a million people for 'inconsistencies' in cash deposits

This is in addition to 60,000 identified under Operation Clean Money 2.0

The income tax (I-T) department has identified 556,000 people for scrutiny over “huge inconsistencies” in the cash deposits made during the demonetisation period. This is the new addition to the tax data that had identified 60,000 people for investigation into claims of excessive cash sales under the department’s Operation Clean Money phase-II.

“The identified people’s bank accounts saw a sudden surge of cash deposits, which raised a red flag in the system,” said a senior tax official.

The cash flow, the official said, was not limited to these people’s bank accounts but was also seen in various investments.

Sources said the new data