Banks, post offices told to give details of cash deposits from Nov 9 to Dec 30

Hyderabad: The Directorate of Income Tax (Intelligence & Criminal Investigation) here conducted a workshop at Income Tax Towers here on Wednesday for banks, co-operative banks and post offices in Telangana State on filling of details of cash deposits from November 9 to December 30.

Delivering the inaugural address, Income Tax Commissioner Gopinath said in order to verify the sources of cash deposits and bring to the notice of tax authorities the unaccounted cash deposits, the Income Tax Department has undertaken the task of collecting, collating, aggregating and analyzing cash deposits made in the bank and postal accounts. For the purpose, the banks, including co-op banks and post offices have been asked to submit the respective information online by January 31 to the Income tax Department. He also said those who deposited Rs 12.5 lakh or more in one or more current accounts (or) Rs 2.5 lakh or more in one or more SB Accounts during November 9- December 30, 2016 should also be reported.

Gopinath further said same workshop will be organized in Vijayawada on January 19 in respect of those located in Andhra Pradesh to sensitize and equip the banks and postal authorities to furnish proper information. Officials from various banks, senior officers of the Income Tax Department will participate in the workshop.

‘Digidhan Mela’ at People’s Plaza

Union Minister of State for Labour & Employment Bandaru Dattatreya and Minister of State for External Affairs MJ Akbar inaugurated Digidhan Mela at People’s Plaza on the Necklace Road on Wednesday.

Niti Aayog and the State Government are jointly conducting the ‘Digidhan Mela’ from January 18 to 19 to promote digital transactions.  People from different walks of life, including students, professionals and the common public are attending the Mela where officials and volunteers are explaining how to do digital transactions. The Niti Aayog has been organizing these Melas across the country as part of its ‘100 days, 100 cities’ drive to combat black money.

During the Mela, people can open bank accounts and apply for Aadhaar card. –NSS

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