Income Tax officials are baffled after a whopping 7 crore rupees, were deposited in an UBER cab driver’s account in Hyderabad. After the Demonetisation on November 8, the Income Tax Department has been keeping a strict tab on all high amount deposits made in banks. It is during these investigations the IT investigators stumbled across an UBER driver’s account which had Rs.7 crores in deposits.
The Income Tax officials released after the second week of November, old demonetised notes have been deposited in the drivers State Bank of Hyderabad account in multiple transactions. The State Bank account was dormant before the Demonetisation move, to discontinue Rs. 500 and Rs. 1000 was announced by the Prime Minister Narendra Modi. After Demonetisation, deposits started immediately, that amount was transferred in installments to the account of a merchant through RTGS. An Income Tax Department Official in this regard said, “When we confronted the cab driver about the deposits and transfers from his account to the bullion trader, he could not explain the sources of the cash deposits.”
After following the leads, the Income Tax Investigators collected evidence from CCTV footage at the bank and surrounding areas. The investigator said, the examination of CCTV footage of the bank and nearby areas revealed that the cash deposits were made by two of the driver’s accomplices.”
The two of the accomplices have been tracked down and have been taken into custody for interrogation by the Income Tax Officials. “We have grilled the duo about the cash deposits and purchase of gold. We have recorded their statements and the investigation is on,” a senior IT official said. The two accomplices have agreed to pay tax under Prime Minister Gareeb Kalyan Yojana scheme for the 7 crores recovered.
As per the regulation passed, the tax for this seven crores would be 3.5 crores, out of which 50% will be refunded immediately and the remaining 50% after 4 years.
