LocalCircles Citizen Request Accepted
We are pleased to share that the collective citizen request raised via Transforming India and Anti-Corruption circles about investigating cash deposits between Apr 1, 2016 to Nov 9, 2016 has been accepted by the Income Tax department.
Yesterday, the income tax department has asked banks to report cash deposits in savings accounts between 1 April to 9 November, 2016.
As per a notification, the banks, co-operative banks and post offices will have to report to the tax department all cash deposits between 1 April to 9 November, 2016—the day when the demonetisation was effected by junking old Rs500 and Rs 1,000 notes.
We hope that where large deposits are observed, withdrawals would also be studied as some may have used their bank account to convert the currency into 100 rupee notes. If you have additional inputs on this matter, please do share.
Thanks for your participation! more
Yesterday, the income tax department has asked banks to report cash deposits in savings accounts between 1 April to 9 November, 2016.
As per a notification, the banks, co-operative banks and post offices will have to report to the tax department all cash deposits between 1 April to 9 November, 2016—the day when the demonetisation was effected by junking old Rs500 and Rs 1,000 notes.
We hope that where large deposits are observed, withdrawals would also be studied as some may have used their bank account to convert the currency into 100 rupee notes. If you have additional inputs on this matter, please do share.
Thanks for your participation! more
Viewed by 5484
View all 58 comments Below 58 comments
Once the transaction will be observed by Tax authorities and other concerned person, they will be able to identify the suspicious accounts and Banks. All branches have not done fraud. some have done it. But for that transaction detail of each bank have to be studied. then random check with the account holders and subsequently if needed all the A/c Holders should be made and guilty have to brought to surface. Because it is certain that many irregularities have happened, So this task need to unearth them more
Jan 16
The IT dept should also track large cash amounts being given to customers by banks. For eg. If 10 thousand large volume notes were given to a bank they need to tally it with amount of notes that have been exchanged. A lot of banks did not exchange old notes for most of the 45 days but the RBI kept stating that the money was dispatched...so the question is where did the money go or rather who did the money go to? While some guys were caught I still think that there are still a large number of bank that have illegally given notes to hawala operators. As a matter of fact these guys are still accepting old notes which means they still have access to exchange of notes without the fear of getting caught. Who are the masterminds behind this illegal activity. more
Jan 14
Does anyone even realise how swiftly this govt has forced us to think about the past .And live in the past by making us worry about our money,others wealth and blaming others for not achieveing the past promises.So now we are occupied worrying more and blame the past govt while this govt has not delivered most of the promises made terms of real objective development whi ch will simplify our daily lives.Routine things like walking along the footpath,playing arena for the kids,simplfying commute for crores of working people is least priority now for this govt. Corruption by police , Municipality and traffic dept is rampant on the streets.This leads to dismal state of our limited infrastructure and adds to daily chaos in our lives. I want this govt to focus on basic governance and fix the ground level issues first. more
Jan 14
The concern of Vijayalakshmi Kannan is a constitutional concern . Cheating the Nation with wrong declarations / cheating by Concealing the Wealth avoiding Tax payment is anti national and also anti Social . Both the Nation and the Co-Citizen are deceived and deprived of being addressed to the general public still score above 55% striving with poverty . Constitutional provisions of Education and Agriculture for livelihood under article 21 are not to be ignored and is not only inhuman but also anti constitutional . Hence , legitimate dues of governments , legitimate wealth of properties in lieu of overdues , are to be takenover by the Indian Union since the States grossly failed . The responsibility of carrying the minimum Constitutional provisions of livelihood requirements lies with both State and States as per the Constitutional concept . more
Jan 13
Dear Mr. Bharat Lal, After sending the below mail, I have now come across a peculiar problem with the demonetisation. My grand daughter aged around 12 years has come to her parents with 6 pcs. of Rs.1000 currency and Ten pcs. of Rs.500 currency notes which she has received on many occasions during her birth day, Vishu, Onam, etc., from her parents, grand parents, mama, veliamma etc., and had kept in a book and forgotton. She saw this on 4th January. Now this cannot be exchanged with the new currency. Is there any way? Thanks, K.N. Suryanarayan. From: K.N.Suryanarayan [mailto:kns@tradelinksworld.com] Sent: 20 December 2016 16:50 To: 'www.send_newpost++iylkqsfdbblkvv++trbbaelkmqfd@localcirclesmail.com' Cc: 'support@localcirclesmail.com' Subject: RE: New document "New Finance Ministry RBI ..." in [Transforming India] Dear Sir, I have read this in two news papers and understand that one more chance is given to genuine honest common man. People who are hoarding lot of demonetised currency of 500 and 1000 will make use of this oppurtunity also to convert their ill gotton money through their chelas, servents, labourers, brokers, commission agents, etc., by parting a small commission. There is no harm in giving one last chance to all the honest persons. Thanks, K.N. Suryanarayan. From: Bharat Lal [mailto:support@localcirclesmail.com] Sent: 19 December 2016 13:53 To: kns@tradelinksworld.com Subject: New document "New Finance Ministry RBI ..." in [Transforming India] more
Jan 13
