DeMo effect: I-T notices to suspicious cash depositors

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The Income Tax Department will soon issue notices to those who have deposited “suspicious” amounts of money in banks post-demonetisation and have not responded to taxman’s preliminary communication, the CBDT said on Tuesday. Sushil Chandra, Chairman, CBDT said despite closing of I-T returns filing time period, a number of entities and individuals failed to file their tax returns, as required under the ‘Operation Clean Money’ (OCM) initiated by the Government to check black money post demonetisation.        

Daily Pioneer
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