I-T Dept to keep record of deposits over Rs 2 lakh

Mumbai , Nov 9: With demonetisation of Rs 500 and Rs 1000 currency notes, the Government has directed Income-Tax Department to coordinate with all banks and furnish details of individuals who exchange cash amount of Rs 2 lakh and above. “A key reason for scrapping these two currency denominations is to curb the huge menace […]

Mumbai , Nov 9: With demonetisation of Rs 500 and Rs 1000 currency notes, the Government has directed Income-Tax Department to coordinate with all banks and furnish details of individuals who exchange cash amount of Rs 2 lakh and above. “A key reason for scrapping these two currency denominations is to curb the huge menace […]

Read more / Original news source: http://kanglaonline.com/2016/11/i-t-dept-to-keep-record-of-deposits-over-rs-2-lakh/