New Delhi: It is now out in the open. The bank officials used dormant accounts to launder black money. The Income Tax department has data which proves this. In fact, Rs 25,000 crore in cash was deposited in these accounts between November 10 and December 30.
Based on the data, the IT officials have also identified 60 lakh accounts in which over Rs 2 lakh was deposited in cash after note ban. IT department suspects that around Rs 3 lakh crore to Rs 4 lakh crore tax evaded income may have been deposited in the 50-day window given to get rid of old Rs 500/1000 notes.
A senior official said the Income Tax Department 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 that more than Rs 2 lakh was deposited in over 60 lakh bank accounts post-demonetisation. The total amount deposited in these accounts is more than 7.34 lakh crore,” he said.
More than Rs 10,700 crore cash was deposited in different accounts in the North-Eastern states since November 9, he said, adding the Income Tax Department and the Enforcement Directorate are looking into over Rs 16,000 crore deposited in different accounts of cooperative banks.
Also, it has come to light that Rs 25,000 cr cash was deposited in dormant bank accounts while nearly Rs 80,000 cr of repayment of loans was done in cash since November 8, 2016 when the government demonetised old 500 and 1000 rupee notes.
Holders of the old currency were given an option to exchange or deposit them in bank accounts until December 30.
“Starting from November 8, 2016 various reports were called for from the banks based on different thresholds of cash deposits made by different categories of persons. The reports were collated and analysed based on intelligence available in the Government data bases,” the official said.
After in-depth analysis, these reports have been disseminated to Income Tax Department, the Enforcement Directorate (ED) and other Law Enforcement Agencies.
Of the 60 lakh bank accounts that saw more than Rs 2 lakh of cash deposits, more than 6.80 lakh accounts have found matches in the existing database of various reports available with Government.
“These have been flagged while disseminating to I-T Department,” he said, adding the details of cash deposits totalling more than Rs 10,700 crore in different accounts in the North-Eastern states has also been disseminated.
Also, the I-T Department and ED have been provided with the details of cash deposits of more than Rs 16,000 crore in different accounts of various kinds of cooperative banks. Deposits of more than Rs 13,000 crore in Regional Rural Banks have also been disseminated.
Besides, “cash deposits in terrorist affected states have also been disseminated to the concerned law enforcement agencies and appropriate actions have been taken in such cases,” he said. (PTI/News24Bureau)