The Income Tax Department will soon issue notices to those who have deposited "suspicious" amounts of money in banks post-demonetisation and have not responded to taxman's preliminary communication, the CBDT said today. Sushil Chandra, chairman, Central
Board of Direct Taxes (CBDT) said despite closing of I-T returns filing time period, a number of entities and individuals failed to file their tax returns, as required under the 'Operation Clean Money' (OCM) initiated by the government to check black money
post demonetisation."The government has already taken all measures under the Operation Clean Money. We have given enough time to people to file their returns and come out clean," he said. - www.business-standard.com[15-11-2017]