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I-T asks banks to report pre-demonetisation cash deposits

Seeking to analyse the banking transactions in months before the demonetisation, the Income Tax Department has asked banks to report cash deposits in savings accounts between April 1 to November 9, 2016

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New Delhi: Seeking to analyse the banking transactions in months before the demonetisation, the Income Tax Department has asked banks to report cash deposits in savings accounts between April 1 to November 9, 2016.

Besides, banks have also been directed to ask the account holders, who did not furnished PAN (Permanent Account Number) or Form 60 (for those without PAN) at the time of opening bank account, to do so by February 28 this year.

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