GET Stock QuotesNews18 APP
News18 English
»
1-min read

17.92 Lakh Entities Under Scanner for Cash Deposits Post Demonetisation, Says I-T Dept

These entities had disclosed income in their tax returns lower than the cash deposits during 50 days ending December 30, 2016 that the government had given to people to deposit the newly illegalised tenders.

News18.com

Updated:November 15, 2017, 12:56 PM IST
facebookTwittergoogleskypewhatsapp
17.92 Lakh Entities Under Scanner for Cash Deposits Post Demonetisation, Says I-T Dept
Image for representation only. (Photo: Reuters/Mukesh Gupta)
New Delhi: Income Tax (I-T) Department’s status report on “Operation Clean Money” collated in May 2017 based on cash deposits made in banks during the 50 day window post demonetisation suggests nearly 18 lakh companies and individuals involved in transactions not in line with their tax paying profile.

These entities had disclosed income in their tax returns lower than the cash deposits during 50 days ending December 30, 2016 that the government had given to people to deposit the newly illegalised tenders.

In a report by Moneycontrol, the I-T Department informed that these 18 lakh entities are under the government scrutiny.

“The cash deposit data was analysed to identify persons whose cash transactions did not appear in line with their tax paying profile. This analysis resulted in identification of about 17.92 lakh persons for verification process,” a source, who did not wish to be identified, said.

Read More: EXCLUSIVE | Demonetisation: How crores of undisclosed cash moved into lakhs of bank accounts

Also Watch

Read full article
Next Story
Next Story
facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Hindalco 264.75 +21.95 +9.04
Vedanta 311.70 +20.60 +7.08
TCS 3,191.15 +32.05 +1.01
Tata Steel 621.95 +20.35 +3.38
BPCL 376.55 -28.65 -7.07
Company Price Change %Gain
Hathway Cable 39.65 -0.65 -1.61
Maithan Alloys 882.00 +15.85 +1.83
HDFC 1,864.45 -12.15 -0.65
HDFC Life 503.15 +11.05 +2.25
Vakrangee 131.75 +6.10 +4.85
Top Gainers
Company Price Change %Gain
Hindalco 264.75 +21.95 +9.04
Vedanta 311.70 +20.60 +7.08
Tata Steel 621.95 +20.35 +3.38
Yes Bank 318.50 +8.95 +2.89
Bharti Airtel 395.35 +11.10 +2.89
Company Price Change %Gain
Tata Steel 620.55 +19.05 +3.17
Yes Bank 318.00 +8.75 +2.83
Bharti Airtel 394.95 +10.15 +2.64
Larsen 1,384.30 +23.65 +1.74
Power Grid Corp 208.20 +3.30 +1.61
Top Losers
Company Price Change %Gain
BPCL 376.55 -28.65 -7.07
HPCL 301.50 -18.10 -5.66
IOC 157.95 -7.00 -4.24
Titan Company 952.75 -24.35 -2.49
Axis Bank 512.90 -5.35 -1.03
Company Price Change %Gain
Axis Bank 513.50 -5.20 -1.00
Coal India 282.85 -2.20 -0.77
HDFC 1,864.45 -12.15 -0.65
Sun Pharma 508.80 -3.10 -0.61
IndusInd Bank 1,834.10 -10.55 -0.57