Rs 1 cr deposited in many MP, Chhattisgarh bank accounts

Bhopal: A large number of account holders in Madhya Pradesh and Chhattisgarh have deposited Rs 1 crore or more since the November 8 demonetisation of high-value currency notes, an Incomes-Tax Department official said on Friday.

The depositors could include several politicians and government officials, he said.

Post-demonetisation, like many other states, Madhya Pradesh and Chhattisgarh also saw account holders depositing huge amounts of money in the scrapped currency notes of Rs 500 and Rs 1,000.

The I-T Department has detected around 400 such accounts with Rs 1 crore or more deposits.

Abrar Ahmad, Principal Chief I-T Commissioner - Madhya Pradesh and Chhattisgarh, confirmed to media persons on Thursday that they have detected such accounts and notices are being sent to the account holders.