New Delhi, Jan 10: The income tax department said on Tuesday that more than 60 lakh bank accounts saw deposits of over Rs 2 lakhs each since the November scrapping of Rs 500 an Rs 1,000 notes.
About Rs 80,000 crore of repayment of loans was done in cash since November 8. And Rs 3-4 lakh crore of evaded income was deposited in banks post that date, an I-T official said.
More than Rs 16,000 crore was deposited in cooperative bank accounts since demonetisation. As much as Rs 25,000 crore was deposited in cash in dormant bank accounts post demonetisation. And in the troubled North Eastern states, more than Rs 10,700 crore in cash was deposited in various bank accounts, the official said.
Meanwhile, the I-T department and Enforcement Directorate also said they are scrutinising the Rs 16,000 crore that was deposited in cooperative bank accounts.
The deposits of more than Rs 13,000 crore in Regional Rural Banks have also been disseminated.
Besides, "cash deposits in terrorist affected states have also been disseminated to the concerned law enforcement agencies and appropriate actions have been taken in such cases," he said.
The official said cash deposits of Rs 2 lakh to Rs 2.5 lakh per account, totalling to Rs 42,000 crore, are found to have common PAN, mobile number or address. The same would be looked into in detail by the Income-Tax Department.
The government has got analysed the deposits in Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts in detail and amounts of cash deposited under different threshold in different regions of the country and shared it with I-T department.
"All cash deposits of more than one lakh rupees in cash under PMJDY accounts would also be looked into, based on the intelligence inputs," he said.
It has come to the notice of the government that more than Rs 25,000 crore have been deposited in cash in re-activated dormant bank accounts and the details have also been shared with the Income Tax department.
Similarly, nearly Rs 80,000 crore of repayment of loans in cash above a certain threshold post demonetisation has also been shared with law enforcement agencies.
"The Income Tax department has undertaken numerous actions, both intrusive and non-intrusive, based on the intelligence and in turn referred a number of cases for parallel investigation by the ED and CBI. The actions have unearthed non-filers, huge amounts of unaccounted income and shell companies," the official said without giving details.
The Income Tax department is also undertaking data analysis and comprehensive matching of the huge intelligence inputs with government databases to have a more effective and focused intrusive and non-intrusive actions in the coming days.
"It is already taking actions in cases where cash deposits above Rs 50,000 have been made without quoting of PAN," he said.
"The Income Tax Department is using tools and its sources to identify each of these persons and is confident that there would a big expansion in the tax base and a quantum jump in direct tax collection," the official added.
Interestingly, Finance Minister Arun Jaitley, on November 12, had claimed that around 2 lakh crore rupees had been deposited in banks across the country, just four days after demonetisation.
"The largest banker in the country State Bank of India saw deposits of Rs 47,868 crore till afternoon (Nov 12)," Jaitley said at the time.