Workshop for bank officials over cash deposits post demonetisation

By: |
Hyderabad | Published: January 18, 2017 7:23:18 PM

The Directorate of Income Tax (Intelligence & Criminal Investigation) will hold a workshop in Vijayawada for the officials of banks, cooperative banks and post offices in Andhra Pradesh on filling of details of cash deposits made between November 9 and December 30.

People deposited Rs 12.5 lakh or more in one or more current accounts and Rs 2.5 lakh or more in one or more savings account during the period of November 9 to December 30, 2016 should report to I-T department. (PTI)People deposited Rs 12.5 lakh or more in one or more current accounts and Rs 2.5 lakh or more in one or more savings account during the period of November 9 to December 30, 2016 should report to I-T department. (PTI)

The Directorate of Income Tax (Intelligence & Criminal Investigation) will hold a workshop in Vijayawada for the officials of banks, cooperative banks and post offices in Andhra Pradesh on filling of details of cash deposits made between November 9 and December 30.

According to an official release, the workshop was conducted here today at the Income Tax Towers. “Gopinath (Commissioner of Income tax) further said a similar workshop will be organised in Vijayawada on January 19 in respect of those located in the state of Andhra Pradesh to sensitise and equip the Banks and Postal Authorities to furnish proper information,” the release said.

Officials of various banks, senior officers of the Income Tax Department participated in today’s workshop.

Gopinath further said that in order to verify the sources of cash deposits and bring to tax the unaccounted cash deposits, the Income Tax Department has undertaken the task of collecting, collating, aggregating and analysing cash deposits made in the bank accounts and postal accounts.

You may also like to watch:

For this purpose, the banks, including co-operative banks and post offices have been asked to submit the respective information online by January 31 to Income tax Department.

He further said that persons, who deposited Rs 12.5 lakh or more in one or more current accounts and Rs 2.5 lakh or more in one or more savings account during the period of November 9 to December 30, 2016 should also be reported.

Follow financialexpress.com for all news and analysis on the Lok Sabha Elections 2019. Check Lok Sabha election 2019 schedule, Lok Sabha Constituency Details and updates on campaigning by Narendra Modi and Rahul Gandhi. Like us on Facebook, follow us on Twitter.

Switch to Hindi Edition
FinancialExpress_1x1_Imp_Desktop