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60 lakh deposited Rs 7 lakh cr in banks since November 8
As many as 60 lakh people have made deposits totalling Rs 7 lakh crore in old notes, officials said on Thursday while warning that every penny of tax will be extracted as the black money does not become white by merely putting it in banks.
By
migrator
migrator
New Delhi
They said the government will not hound any genuine depositor but will not hesitate in tracking all such deposits and litigating any tax evasion by a black money holder trying to convert illegal wealth.
Post demonetisation, unaccounted wealth holders have an option to avail of a tax evasion amnesty scheme Pradhan Mantri Garib Kalyan Yojana (PMGKY) and pay their dues, failing which the government’s long arms will surely catch them, they said.
“People are thinking that money has come into the banking system and it has all become white. This is not so. We have been getting daily information of all the deposits above Rs 2 lakh, Rs 5 lakh and the number and amount deposited. We have been collating this information with past information about the each person,” official said.
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