demonetisation:IT had identified 1.8 million people Tax Defaulters

There is a move to set up an agency to investigate anomalies in income tax returns filed by 18 lakh people after demonetisation, Union Minister Radha Mohan Singh said on Wednesday at Balia in UP. Post-demonetisation, ?15 lakh crore was deposited in banks, he said.
“As many as 18 lakh people have filed income tax returns showing their income as ?12 lakh but have deposited ?1.25 crore in banks ... There is a move to set up a new agency for probing it,” Mr. Singh said. The Minister warned that all those possessing black money would be taken to task.
Be it Mayawati or Congress president Sonia Gandhi’s son-in-law Robert Vadra, no one will be spared if found guilty, he said. The Income Tax Department had identified 1.8 million people whose cash deposits after demonetisation did not match their taxpayer profiles and asked them to answer queries about the source of income for these cash deposits.The exercise was a part of the department’s efforts to reconcile demonetisation related data at its disposal and look for instances of tax evasion.
In the initial phase, the department was scrutinising cash deposits above ?5 lakh and suspicious deposits between ?3 lakh and ?5 lakh.