Stepping up the heat on tax dodgers, the Income Tax department has asked banks to report deposits in any account aggregating Rs 10 lakh in a year, as well as cash payments of Rs 1 lakh or more for clearing credit card dues.The Central Board of Direct Taxes (CBDT), has in a notification dated January 17, listed cash transactions which need to be reported to the tax authorities and set up an e-platform for receiving the information.Finance MInister Arun Jaitley is reported to have directed the IT Department to intensify operations against tax evaders.

Source - http://www.businesstoday.in