Category Archives: Economy

Anyone who has deposited cash or purchased high value items after the November 8 demonetisation not in line with income declared in tax returns may have reason to worry as the authorities sift through tonnes of data generated in the past two months or so. They are also using data analytics to parse for points of similarity to see if any attempt has been made to split up transactions to avoid suspicion. The income tax department is likely to put such names on its website soon, making it mandatory for them to explain such transactions.