Income tax office to question high-value depositors

New Delhi, Feb 19: Income tax office has said here on Saturday that it will again send 'non-statutory' letters to those who have not replied to its SMSes and e-mail questions seeking detailed explanation of suspicious deposits made soon after Prime Minster Narendra Modi announced note ban on November 8.

It has got replies from 7 lakh people so far. They have accepted making such deposits and the department will issue letters to the remaining asking them to explain the source of deposits on the e-filing portal under Operation Clean Money.

The department said it was ‘verifying’ over Rs 4.5 lakh crore of suspicious deposits made by 18 lakh people. Big Data analysis by the tax department has revealed that deposits of over Rs 2 lakh totalling Rs 10 lakh crore were made in one crore bank accounts in the 50-day window after the demonetisation decision that cancelled 86 per cent of currency in circulation.