Tag: I-T Dept

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 of fake currency, tackle black money and make India a cashless economy,” said a senior I-T Department official.

The post I-T Dept to keep record of deposits over Rs 2 lakh appeared first on The Sangai Express.

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 of fake currency, tackle black money and make India a cashless economy,” said a senior I-T Department official.

The post I-T Dept to keep record of deposits over Rs 2 lakh appeared first on The Sangai Express.

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