The Income Tax Department said 5.27 lakh assesses, out of 18 lakh who were sent SMS/emails for making suspicious deposits post demonetization, have submitted their response and warned others of 'enforcement action' if they fail to respond by February 15.
It further said that 99.5% of the 5.27 lakh assesses have confirmed the amount which they have deposited as cash during the 50-day demonetization period ending December 30. These deposits were made in 7.41 lakh bank accounts.
"The operation has seen an overwhelming response and till February 12, 2017, more than 5.27 lakh taxpayers have already submitted their response," a CBDT statement said.
Responding to the SMS/email queries under 'Operation Clean Money', the assesses have disclosed additional 25,000 bank accounts in which cash was deposited.
"The Department is encouraged to note that taxpayers have increased the cash deposit amount in nearly 90,000 accounts and provided details of additional 25,000 bank accounts in which cash was deposited.
Under Operation Clean Money launched on January 31, the department had sent SMS/email queries to 18 lakh assesses for making suspicious cash deposits of over Rs 5 lakh and gave them 10 days time to reply on the filing portal.
"Income Tax Department is keeping a vigil on the PAN holders who have still not registered on the e-filing portal or who have not yet submitted their online response. Such taxpayers are advised to register themselves at the e-filing portal https://incometaxindiaefiling.gov.in. and submit the online explanation," it added.
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