I-T dept asks banks to report cash deposits above ₹10 lakh
The I-T department has asked banks to report deposits in any account worth ₹10 lakh in a year. It also asked banks to report cash payments of ₹1 lakh or more on credit card bills. It further reiterated banks should report deposits of ₹2.5 lakh or more made by a person during November 9 to December 30, 2016.