Bengaluru: Income tax (IT) department has sent notice to 1, 300 depositors those who have deposited more than Rs 1 crore without PAN details in cooperative banks in the state after demonetisation which came into force on November 08. In a bid to find unaccounted money and property, IT officials are also eyeing on the unaccounted transactions made by the cooperative banks in Karnataka.
Speaking at a press conference here in the state capital, IT Vigilance unit director Ravichandra said, after demonetisation, IT department in the state has flooded with the complaints on unaccounted transaction, money and property against individuals and organisations. IT department has served notice to 1,300 depositors for depositing Rs 2, 400 crore cash in the bank accounts without PAN details after their money deposited found unaccounted in the preliminary inquiry.
As many as 20 depositors who have alleged with unaccounted money out of 1, 300 depositors in the state have come forward to disclose their unaccounted money and pay fine and penalties for their act.
IT department has found Rs 7, 000 crore unaccounted transaction during the period between January 2016 – November 08, 2016 at various cooperative banks in Karnataka. As many as 285 cooperative banks functioning in the state and out of which more than 80% of the banks haven’t yet provided information on their transaction, IT vigilance director said. Around 59,573 cooperative bank customers haven’t yet provided information on their income and Rs 7,636 crore worth unaccounted transaction was carried out through cooperative banks this year.
(Agencies)
