Published On : Sat, Nov 19th, 2016

I-T department cracks the whip, sends notice on large cash deposits

Income Tax DepartmentJust 10 days after PM Narendra Modis announcement of removing old Rs 1,000 and Rs 500 currency denominations from legal tender, the income tax department has started cracking the whip on people depositing large amount of cash.

The I-T department of Siliguri, enquiring of cash deposits made by people in State Bank of Sikkim from November 12 14. “It’s a genuine notice sent by us,” Bhutia confirmed.

In the notice dated November 18 signed by Norbu Bhutia, deputy director of Income Tax (Investigation) at Siliguri unit the concerned party has been asked to appear before the deputy director on (or before) November 25 to explain the source of deposits, along with supporting documentary evidence.