The Income Tax Department on Thursday said that it is investigating cash deposits of Rs 2.89 lakh crore that were made after the government’s demonetisation exercise last November. This money was deposited by 9.72 lakh people in 13.33 lakh accounts.

Around 14,000 properties worth more than Rs 1 crore each are also under the tax department’s scanner as their owners have not filed Income Tax Returns.

This comes just a day after the Reserve Bank of India released its annual report. It had said that Rs 15.28 lakh crore had returned to the banking system on June 30 after demonetisation. It was more than 99% of the value of the currency that was scrapped in November, which was pegged at Rs 15.44 lakh crore.