'Operation Clean Money to track large deposits'

Mumbai: Revenue Secretary Hasmukh Adhia on Tuesday said the government has created a new software to identify and track large deposits made after Rs 1,000 and Rs 500 notes were banned.

Adhia said that Operation Clean Money software will be used to assess large deposits. “Those who made large deposits of over Rs 5 lakh will be questioned,” he said. For the purpose an e-filing portal will be used, Adhia said.

Apart from that the income tax department has identified 18 lakh people whose post-note ban deposits do not match with their tax-paying profile.

“Tax department to send e-mail, SMS to those whose deposits don't match payment profile to enquire about such deposits,” he said. Notices will be sent if e-mail, SMS queries are either not responded or response is unsatisfactory, Adhia added.