New Delhi, January 11

Income Tax department has reportedly detected deposits of Rs 3 to Rs 4 lakh crore of unaccounted income in over 60 lakh accounts during the 50-day window following the government’s decision to scrap high-denomination Rs 500 and Rs 1,000 currency notes.

A senior official said cash deposits of over Rs 10,700 crore were made in different accounts in the northeastern states. IT officials identified that Rs two lakh and above were deposited in more than 60 lakh accounts.

Majority of the people paid their loans with scrapped currency. Loans worth Rs 80,000 crore were repaid. IT sleuths started enquiry into the Rs 16,000 crore deposits in cooperative banks.

The senior official said they have details of all the deposits made after demonetization. According to them, the total amount deposited in these accounts is more than 7.34 lakh crore, including tax evaded and including tax money.

60 Lakh Accounts

Thousands of customers started transactions of their bank accounts after demonetisation, which were hitherto remained inoperative. A whopping amount of Rs 25,000 crore has been deposited in inoperative accounts within a span of 50 days.

With several private banks permitting to deposit old notes in these accounts to renew them, has made these accounts live. IT officials are enquiring the details of regional rural banks since around Rs 13,000 crores have been deposited in these banks.

Keeping in view of huge deposits in eastern states, intelligence wings may start probing about the links between these accounts and terrorist groups.

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