Jan Dhan deposits slowed after govt apprised against misuse of account: CBDT

By: | Updated: December 7, 2016 9:54 PM

The Jan Dhan deposits has slowed down after the Centre warned against misusing such accounts for converting black money into white.

During a parivartan rally in Uttar Pradesh, Prime Minister Narendra Modi had asked poor people not to withdraw money from their Jan Dhan accounts. (Reuters)During a parivartan rally in Uttar Pradesh, Prime Minister Narendra Modi had asked poor people not to withdraw money from their Jan Dhan accounts. (Reuters)

The Jan Dhan deposits has slowed down after the Centre warned against misusing such accounts for converting black money into white. The NDA Government had also said that average deposit per Jan Dhan account at Rs 13,113 during November 8-December 2 is not alarming. Meanwhile, the Income tax department has come across several inconsistencies in cash deposits in Jan Dhan accounts and found that around Rs 1.64 crore deposited by those people who have never filed returns as their income shown is below the taxable limit.

The Central Board of Direct Taxes (CBDT) today once again said that its warning to people against permitting misuse of their accounts by unscrupulous elements. On Sunday, Ministry of Finance had said that the Investigation being conducted by the income tax department across the country into the sudden increase in cash deposits in Jan Dhan accounts have revealed several inconsistencies.

During a parivartan rally in Uttar Pradesh, Prime Minister Narendra Modi had asked poor people not to withdraw money from their Jan Dhan accounts. During his speech, the prime minister had focussed his entire speech around the inconvenience faced by the common public because of demonetisation and tried to put as something, which was for the betterment of the people of country.

Referring to reports of millions of rupees being deposited in Jan Dhan accounts allegedly by black money holders, Narendra Modi also said that not only the money should go to poor people, but black money holders should also go to jail.

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