Income Tax Department started sending notices to people who deposited above 2.5 Lakh

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8th November is a sad day for the rich who got richer by skipping tax. Narendra Modi government banned existing Rs 500 and Rs 1000 notes, which forced people to deposit their currency in their banks accounts. Well this did not stop their, once the currency was deposited Income Tax Department are on a hunt for these currency depositors.

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Income tax department has sent a notice to Sitaram Enterprises to explain their cash deposit of Rs 4,51,000/- on 13th November. Well this proves that government is not going to spare tax defaulter. The notice specifies the cash deposited and requests the owner of this enterprise to explain this deposit by appearing in personal at the IT Department. Below is the image of the notice that is being circulated in social media. So people be aware, if you deposit more than Rs 2,50,000/- Income Tax Department would love to interact with you. Read more on Demonetization.

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Source : India CEO

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