₹3-4 L cr of evaded income deposited in banks after note ban
The government has found that an estimated ₹3-4 lakh crore of tax-evaded income have been deposited during the 50-day window provided till December 30 to get rid of scrapped ₹500 and ₹1,000 notes. Reportedly, the Income Tax Department has been asked to scrutinise details and send notices to depositors of the money on which tax could have been evaded.