Of the cash deposited in banks between November 9 and December 30, a staggering 35% was by proprietorships, while only 2.4% was by salaried individuals. Another 22.6% was by corporate entities, while a staggering 12.5% was deposited by those who have a PAN but don’t file returns. These insights come from a taxpayer segment analysis carried out by the income tax department. Note: This analysis is based on only reported cash transactions. Account level information without valid PAN has been excluded, while account level deposit information from banks and post offices was ...
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