Cash deposits above Rs2.5 lakh to face tax, penalty on income mismatch3 min read . Updated: 10 Nov 2016, 02:15 AM IST
Cash deposits made within exemption limit may not draw income tax scrutiny
New Delhi: A day after the government scrapped Rs500 and Rs1,000 bank notes, the government said on Wednesday that high-value transactions will come under the tax department’s scanner and that there will be no immunity for cash deposits made.
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