Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 07 December, 2016.
Subject : Inflow of Funds into Jan Dhan AccountsOnline GST Certification Course by TaxGuru & MSME- Click here to Join
Since the time the Government has alerted people not to allow their accounts, particularly Jan Dhan accounts, to be used by others for the purpose of converting their black money, there has been a considerable decrease in the inflow of funds in Jan Dhan accounts. In the first week after the decision on currency notes was announced, i.e. 8th to 15th November, the total deposits received in Jan Dhan accounts was Rs.20,206 crores. In the second week, between 16th to 22nd
November, the flow was Rs.1 1,347 crores. And in the third week between 23rd to 30th November, it was reduced to Rs.4867 crores.
On 1st and 2nd December, the inflow into Jan Dhan account has now been reduced to Rs.410 crores and Rs.389 crores respectively. The average per account deposit in Jan Dhan accounts is Rs.13,1 13/- for this entire period from 8th November to 2nd December, which is not alarming, given the need to bring all cash to banks.
The Income Tax Department has identified the local clusters and Bank branches where the inflow of Jan Dhan deposits have been more than normal, in order to investigate money deposits in Jan Dhan accounts which belonged to somebody else.
Commissioner of Income Tax
(Media and Technical Policy)
Official Spokesperson, CBDT.