Rs 7 crore cash found in an Uber cab driver's bank account leaves I-T officials shocked

As much as Rs 7 crore cash was recently found deposited in a bank account of an Uber cab driver.

He hails from Hyderabad. While scrutinizing cash deposits in bank accounts after demonetisation, the I-T (investigation) wing sleuths of Hyderabad zeroed in on the account of this cab driver. They were shocked to find Rs 7 crore demonetised notes deposited in his State Bank of Hyderabad account in a span of a few weeks after November second week.

"The account was dormant before demonetisation," an I-T official told TOI.

Immediately after the deposits were made, the amount was transferred systematically into the account of a bullion merchant through RTGS.

On being confronted, the cab driver reportedly failed to explain the sources of deposits. The tax sleuths then analysed the CCTV camera footage from the bank and surrounding areas only to find that the cash deposits were made by two of the driver's accomplices.

Both were tracked, caught and questioned on Wednesday about the cash deposits and purchase of gold. Their statements were recorded and the investigation is on.

"As per the Prime Minister Gareeb Kalyan Yojana rules, the offenders have to pay about Rs 3.5 crore as tax plus penalty and deposit 25 per cent of the amount in the bank account under the PMGKY scheme, which will remain blocked for four years without any interest," a tax official said.

They have agreed to pay tax for Rs 7 crore under the PMGKY scheme.