Siliguri: The Income Tax (I-T) Department has started sending notices to the people and companies, asking them to inform it about depositing large amount of cash after November 8, the day the government announced the decision to demonetise Rs 500 and Rs 1,000 notes.
The Income Tax department of Siliguri sent notice for enquiring of cash deposits made by M/S Sitaram Enterprises in State Bank of Sikkim from November 12 – 14, who deposited Rs 4,51,000 in cash in the wake of demonetisation of Rs 1,000 and Rs 500 denomination currency notes.
In the notice dated November 18 – signed by Norbu Bhutia, Deputy Director of Income Tax (Investigation) at Siliguri unit – the concerned party has been asked to appear before the Deputy Director on (or before) November 25 to explain the source of deposits, along with “supporting documentary evidence”.
“It’s a genuine notice sent by us,” Deputy Director Bhutia said.
“You may also produce the books of accounts along with bills/ voucher of documents which would be useful to explain the cash deposit,” the notice says.
However, these notices are only to ensure that such illegal acts are stopped. Failure of the persons to whom we have sent notices to furnish the information sought by us by November 18 will result in penal proceedings under the Act,” said Deputy Director of Income Tax.