Income Tax Dept has found accounts with unusual deposits in cooperative banks in Karnataka and Goa. The IT dept has asked the banks concerned to furnish details about these accounts, reports Times of India.
The department has instructed the banks to alert them about suspect transactions latest by the end of this month.
Nearly 205 cooperative banks have reported high-value transactions. Post-demonetization deposits are said to be to the tune of Rs 26,000 crore across the country.
The department convened a workshop for urban cooperative banks on the procedures to be followed while reporting post-demonetization transactions.
