New Delhi: Decision of demonetization caused lots of pain to the people having huge amounts as well to those, who need to stand in long queues for the withdrawal of money, with this a notice has been issued by the income tax department to those who deposited a huge amount of cash in banks after November 8 in the denomination of abolished Rs. 500 and Rs. 1000 currency notes.

According to the official, a country-wide enquiry has been commenced in the matter and the notices were issued under section 133 (6) of the Income Tax Act (power to call for information) in several cities and towns of the Nation.

"The notices are being issued where the department feels the cash deposits made in the demonetised currency is suspect. This is part of the vigil that the taxman has deployed to check instances of tax evasion, money laundering and black money in the wake of the demonetisation of the two high denomination currencies on November 8," said officials.

An IT department notice issued in this matter said, "If you are assessed to Income Tax, then you shall also file the copy of Income Tax Return of last two years”.

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