Deposits of 70 plus people up to 5,00,000 not to be scrutinized
Wednesday, February 22, 2017, 4:21 PM
Cash deposits up to Rs 5 lakh made by people above 70 years of age post demonetization, will not be scrutinized by the tax department. But for other individuals, the limit has been fixed at Rs 2.5 lakh. “We are not going after everyone who deposited their holding of the demonetized currency in bank accounts post demonetization,” a senior Finance Ministry official said.