New Delhi: The Income Tax Department has, in the second phase of Operation Clean Money (OCM), identified 5.56 lakh people whose deposits during the demonetisation window do not match their income profile.

All taxpayers so identified would be informed via email or SMS and that they can view the relevant information on the e-filing portal https://incometaxindiaefiling.gov.in.

In the first phase, 17.92 lakh persons had been identified for e-verification of large cash deposits, of which 9.72 lakh people had submitted an online response.1.04 lakh persons who did not disclose all bank accounts during e-verification in the first phase of OCM have also been identified. 

Taxpayers would also have to disclose details of deposits of more than Rs. 2 lakh in their IT returns, and that their ITR is fully clear about the details of the income of the the deposits.