Tamil Nadu man deposits Rs 246 crore in account, will pay 45% of it as tax


CHENNAI: More than 200 individuals and companies have deposited unaccounted money to the tune of Rs 600 crore in various bank accounts in Tamil Nadu and Puducherry after demonetisation was announced+ on November 8 last year. Most of the accounts in which such deposits were made are in rural Tamil Nadu, but some are in Chennai. Many such instances were reported in suburban areas and districts adjoining cities, said income tax sources.

Officers told TOI that an individual in Tiruchengode in Namakkal district deposited Rs 246 crore in a branch of the Indian Overseas Bank.”We were following him for more than 15 days after finding that he had deposited cash in a rural branch of the IOB.

Click here to read more…

Credit: timesofindia.indiatimes.com