Rs 3-4 lakh crore of evaded income recovered after demonetisation, says I-T official

The details about deposited cash come at a time when I-T department and Enforcement Directorate are looking into over Rs 16,000 crore deposited in different accounts of cooperative banks

Rs 3-4 lakh crore of evaded income recovered after demonetisation, says I-T official

Undeclared income of nearly Rs 3 to 4 lakh crore has been deposited in banks after November 9, said Income Tax official on Tuesday while scrutinising bank details post- demonetisation.

The I-T official told PTI that after Prime Minister Narendra Modi's decision to scrap high-value notes of Rs 500 and Rs 1000, more than Rs 2 lakh crore has been deposited in over 60 lakh bank accounts.

He added nearly Rs 80,000 crore of repayment of loans were done in cash after demonetisation.








The details about deposited cash come at a time when I-T department and Enforcement Directorate are looking into over Rs 16,000 crore deposited in different accounts of cooperative banks.

PTI also quoted the I-T official as saying that more than Rs 10,700 crore cash were deposited in different bank accounts in North Eastern states since November 9, a day after PM Modi announced the demonetisation.

He also said that Rs 25,000 crore has been deposited in cash in dormant bank accounts post demonetisation.