I-T to issue notices to suspicious cash depositors

The Income-Tax (I-T) Department will soon issue notices to those who have deposited “suspicious” amounts of money in banks after demonetisation and have not responded to the taxman’s preliminary communication, the CBDT has said. 

Chairman Sushil Chandra said despite closing of the I-T returns filing time period, a number of entities and individuals failed to file their returns, as required under the ‘Operation Clean Money’ initiated by the government to check black money after demonetisation.