If an individual's bank account never had more than Rs 2 lakh, Then he/she could be in trouble if an amount to the tune of few lakhs was deposited after note ban.
Reserve Bank of India (RBI) sought details of such accounts from all the nationalized and private banks in the country. All these account holders might receive notices asking them to disclose the source of the income sooner or later.
The next phase of anti-black money campaign is to identify suspicious bank accounts and take necessary action against tax evaders. After covering metropolitan cities, Branches in tier-II and tier-III cities have been under the scanner of Income Tax and RBI now.
Currently, Banks have been providing details of bank accounts in which Rs 2.5 lakh or more has been deposited to Financial Intelligence Unit.
Reserve Bank of India (RBI) sought details of such accounts from all the nationalized and private banks in the country. All these account holders might receive notices asking them to disclose the source of the income sooner or later.
The next phase of anti-black money campaign is to identify suspicious bank accounts and take necessary action against tax evaders. After covering metropolitan cities, Branches in tier-II and tier-III cities have been under the scanner of Income Tax and RBI now.
Currently, Banks have been providing details of bank accounts in which Rs 2.5 lakh or more has been deposited to Financial Intelligence Unit.