<h1>Revenue Secretary Clarifies: Small Deposits Unchecked, Large Deposits Scrutinized; PAN Required for Jewelry Purchases.</h1> The revenue secretary addressed concerns regarding the income tax department's actions on deposits made in old currency. Small deposits up to 1.5 or 2 lakhs by individuals like small businessmen and housewives will not be scrutinized. However, cash deposits above 2.5 lakhs will be reported and matched with income returns. Deposits exceeding 10 lakhs, not aligning with declared income, will incur a tax and a 200% penalty. To curb tax evasion through jewelry purchases, buyers must provide their PAN numbers, and jewelers are required to comply with this regulation, with non-compliance leading to action.