New Delhi, November 28: The Income Tax Department has slapped notices on 1.16 lakh individuals and firms who made cash deposits of more than Rs 25 lakh in bank accounts post note ban but failed to file returns by the due date, CBDT Chairman Sushil Chandra said.
Out of them, individuals and companies who have still not filed their IT returns were segregated into two categories those depositing more than Rs 25 lakh in bank accounts and those putting in Rs 10-25 lakh each.
“There are 1.16 lakh people who have deposited more than Rs 25 lakh in cash after demonetisation in old currency notes but still not filed their returns,” he told PTI here.
“So we have asked them to file their IT returns within 30 days,” he said. Chandra said 2.4 lakh people had made cash deposits of Rs 10-25 lakh who have not filed returns so far.
“They will also get notices in the second phase,” if they did not file the returns, he said. The total complaints filed are 1,046 as against 652 in the last year.
Also, convictions have gone up to 43 from 13 last year, Chandra said. “So courts have given judgement convicting people. So those 43 people will face sentences given by courts”.
According to the official data, 17.73 lakh suspicious cases involving Rs 3.68 lakh crore have been identified by taxmen in 23.22 lakh bank accounts post demonetisation. Responses from 11.8 lakh people for 16.92 lakh bank accounts had been received by the department online.