Income Tax department has issued notices to three top private banks in connection with alleged money laundering charges levelled by an online portal. The banks are ICICI Bank, Axis Bank and HDFC Bank. The department has asked these banks to produce documents for verification as part of its tax evasion probe. The notices have been issued after going through two confidential reports submitted recently to the Department of Revenue by the RBI and the Financial Intelligence Unit. According to IT sources, similar notices will be issued to various other banks and financial institutions which featured in the second episode of the portal sting operation.
News On AIR | May 28, 2013 8:49 PM
IT Dept. issues notices to 3 private banks for alleged money laundering