Tightening rules further to trace black money, the finance ministry has directed that persons with savings accounts in banks and post offices who have not given their PAN or Form 60 till date must do so by February 28, 2017.Speeding up the post-demonetisation investigation, banks and post offices have been told to provide information about cash deposits aggregating to more than Rs 2.5 lakh during the period November 9, 2016 to December 30, 2016, latest by January 15, 2017.This reflects the speed and urgency with which the department is working. Quoting of PAN for such deposits had been made mandatory from 15.11.2016 post demonetisation Importantly, the finance ministry has also asked banks and post offices to provide data about cash deposits during April 1, 2016 to November 9, 2016 for those accounts where there have been cash deposits during the demonetisation period - November 9, 2016 to December 30, 2016 - aggregating to: (i) Rs 12.5 lakh or more, in one or more current account of a person; or (ii) Rs 2.5 lakh or more, in one or more accounts (other than a current account) of a person. It would appear that this data may be used for comparative purposes to see the deposit history of the person.The above directives are contained in a notification issued by the Central Board of Direct Taxes ( CBDT ), finance ministry, on January 6, 2017.It may be mentioned that the directive about compulsory providing of PAN appears aimed at ensuring that all banks accounts, except specified time deposits and BSDBAs, are linked with PAN of the holder. In some cases bank accounts may exist where PAN was not provided either because the accounts are very old and were opened at a time when PAN quoting was not compulsory. Some accounts may lack PAN due to other reasons e.g salary accounts opened prior to compulsory quoting of PAN etc. The notification however clarifies that this deadline for providing PAN does not apply to those holding time deposits mentioned at Sr No 12 of Table in Rule 114B or Basic Saving Bank Deposit Accounts (BSDBA).Quoting of PAN or giving Form 60 in case of specified cash transactions exceeding Rs 50,000 is already compulsory. The notification also makes it mandatory for all those (e.g bank/post office officials, hotel or restaurants etc as per Rule 114B) receiving PAN/Form 60 for such transactions to maintain records and provide the same to the income tax authorities as per income tax rules.The above appears to be a part of the government drive to detect and unearth unaccounted money that may have been deposited in the banking system post demonetisation. The finance minister has reportedly said that just depositing of money in a bank account does not imply that all of it is accepted as legitimately earned money.