Keeping up the heat on those who made huge cash deposits with banks after the government announced demonetisation of high-value denominations, the tax authorities have identified 6.6 lakh people whose tax profiles do not match the cash deposited, including 5.6 lakh people in the second phase of "Operation Black Money."
The Statement of Financial Transactions (SFT) helped to identify 5.56 lakh new individuals with a mismatch between their tax profiles and cash deposits during the 52-day window (November 9 and December 30, 2016) provided by the government to deposit the banned notes, according to the BusinessLine.
In addition to the 5.6 lakh people, the income tax authorities also found out that there were 1.04 lakh individuals who did not disclose their bank account details properly during e-verification.
All the identified individuals are being informed via SMS and e-mail to deposit their responses online, according to the income tax department. "The information in respect of the cases and accounts identified has been made available in the e-filing window of the PAN holder at the portal www.incometaxindiaefiling.gov.in," the business daily said, quoting from an official release issued on Friday, and added that taxpayers responses can be filed online.
In the first phase of "Operation Clean Money" launched in January this year, around 17.9 lakh individuals were identified for e-verification of large cash deposits, of which, 9.72 lakh had submitted their responses online, according to the BusinessLine.