Co-operative banks against IT Dept

Kozhikode: The co-operative banks approached central government against the direction of Income Tax Department to submit details of the depositors. The IT Department asked banks to give details on depositors with deposit of Rs. 5 lakh and more and those who accept interest of Rs. 10,000. Earlier such observations were not on the depositors of co-operative banks by the IT department. The banks gave request to Union Minister of Finance Arun Jaitley over the IT Department’s intervention in bank deals. Discussions will be initiated within ten days on this under the guidance of Chief Minister of Kerala.

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