Income Tax Dept Asks Banks To Report Cash Deposits Between Apr 1 And Nov 9 In 2016

NEW DELHI, Jan 08: The Income Tax department has  asked banks to report cash deposits in savings accounts between April 1 to November 9, 2016.

As per a notification, the banks, cooperative banks and post offices will have to report to the tax department all cash deposits between April 1 to November 9, 2016 , the day Demonetozation came into picture.

Also, cash deposits exceeding Rs 50,000 in a single day had to be reported.

 

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