IT dept launches Operation Clean Money-II
DSIJ Intelligence / 14 Apr 2017
In order to curb black money post-demonetisation, the Income Tax (IT) department has launched the second phase of the ‘Operation Clean Money’ on Friday. The IT department will investigate over 60000 individuals under this country-wide operation.
In order to curb black money post-demonetisation, the Income Tax (IT) department has launched the second phase of the ‘Operation Clean Money’ on Friday. The IT department will investigate over 60000 individuals under this country-wide operation.
The first phase of the ‘Operation Clean Money’ was launched on January 31. The department had sent online queries and investigated 17.92 lakh persons, out of which 9.46 lakh persons have responded to the department.
The Central Board of Direct Taxes (CBDT) has detected undisclosed income over Rs 9,334 crore between the period starting November 9, 2016 up to February 28, 2017.
More than 60,000 persons, including 1,300 high risk individuals, have been identified for investigation into claims of excessive cash sales during the demonetisation period. The IT department has also identified more than 6,000 transactions of high value property purchase and 6,600 cases of outward remittances.
All the cases where no response is received shall be subjected to detailed enquiries.
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