2000 notes: Bank officers suggested {{that a}} report is being prepared and despatched to the Income Tax Department in regards to the accounts about which there was doubt. Deposits and withdrawals above Rs 10 lakh in monetary financial savings account and above Rs 50 lakh in current account are being monitored.
Indicative pictureGhaziabad: In 9 days, Rs 2,000 notes worth Rs 497 crore had been deposited in monetary establishment accounts. During this, phrase commerce of Rs 118 crore moreover occurred. 2 thousand notes from Ghaziabad (2000 notes deposit) had been moreover deposited inside the monetary establishment accounts of various districts. Bank officers acknowledged that in some accounts KYC was not updated, however notes had been deposited in them. There are many such accounts, along with Jan Dhan, whereby transactions weren’t achieved for a really very long time, the place such notes have moreover been deposited. Initially solely spherical Rs 40-50 crore had been being deposited in monetary establishment accounts, nonetheless between June 1 and three, most notes had been deposited and exchanged. In the state, after Kanpur and Lucknow, Ghaziabad deposited most Rs 2,000 notes in monetary establishment accounts. On June 1, Rs 87 crore was deposited in monetary establishment accounts, whereas Rs 19 crore was exchanged. So far, Rs 106 crore has been deposited and exchanged inside the account, the perfect ever in a single day. On June 2, Rs 71 crore was deposited inside the account. On June 3, Rs 64 crore was deposited. Bank officers acknowledged that the accounts about which there was doubt are being prepared and despatched to the Income Tax Department. Deposits and withdrawals above Rs 10 lakh in monetary financial savings account and above Rs 50 lakh in current account are being monitored.
Some big money was deposited from the machine as correctly, in numerous banks some big money was deposited from the cash deposit machine. 2 thousand notes had been moreover deposited inside the accounts whose KYC was not updated nonetheless weren’t blocked. On visiting the division of the monetary establishment, KYC was being demanded sooner than depositing money in such monetary establishment accounts, whereby case of us deposited money from the cash deposit machine itself. However, transactions in most of the monetary establishment accounts whose KYC was not updated have been frozen. A monetary establishment official suggested that Rs 2,000 notes are being deposited in such accounts, which weren’t in use for a really very long time. The Income Tax Department may also be conserving a watch if a person has deposited decrease than Rs 10 lakh in his monetary financial savings account by taking charge. Get it achieved and do not level out it whereas submitting income tax return, then they are going to moreover get a uncover from the Income Tax Department. Those who will get the uncover ought to inform the provision of such transaction. Lead Bank Manager Himanshu Tiwari suggested that the Income Tax Department has automated reporting of economic establishment transactions. The Income Tax Department scrutinizes such suspicious accounts. Then seems on the ITR of that specific individual. When such transactions aren’t talked about inside the ITR, then they’re given a uncover and a reply is sought. According to the perfect number of monetary establishment notes deposited proper right here, in UP, Kanpur, Lucknow, Ghaziabad, Gautam Budh Nagar, Moradabad, Bareilly, Agra districts have accounts worth two thousand. Notes have amassed most likely probably the most. In smaller districts, the number of depositors of such notes was very a lot much less. In some branches solely two to 4 notes are coming.
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