On Friday, the income Tax Department has taken up the second phase of ‘Operation clean Money,’ as a step against black money. By noon the department has already listed 60,000 individuals. This operation is aimed at detecting black money that has been created after Demonetisation.
The data was analyzed by integrating the sources, clustering relationships and tracking the funds to identify these individuals. The CBDT (Central Board of Direct Taxes,) which is a policy making body, has said that they discovered undisclosed income of Rs. 9,334 crores after Demonetisation and before February 28, 2017.
The CBDT said, “More than 60,000 persons, including 1,300 high risk persons, have been identified for an investigation into claims of excessive cash sales during the demonetisation period. More than 6,000 transactions of high value property purchase and 6,600 cases of outward remittances shall be subjected to detailed investigations (under Operation Clean Money II.) All the cases where no response is received shall also be subjected to detailed inquiries.”
This is allegedly the latest edition of the operation, which has already sent queries to 17.92 lakh persons after January 31. Of this 9.46 lakhs have responded about the details of the transactions, whereas the others are yet to reply.
