Youth Cong stages protest against govt over IT notice
The Indian Youth Congress (IYC) on Saturday staged a protest against the BJP-led government over the Income Tax notice to…
Intensifying its fight against black money, the Income Tax Department has launched ‘Operation Clean Money-II’ which will detect growth of unaccounted money post demonetisation.
“I-T Dept has launched second phase of Operation Clean Money to detect black money post-demonetisation,” the Central Board of Direct Taxes (CBDT) said on Friday, adding, “The department will issue notices to 60,000 entities”.
According to CBDT, “More than 60,000 persons, including 1,300 high risk persons, have been identified for investigation into claims of excessive cash sales during the demonetisation period".
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“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),” CBDT said.
“All the cases where no response is received shall also be subjected to detailed enquiries,” it added.
The first phase of Operation Clean Money was launched on 31 January. Under the operation, the department had sent online queries and investigated 17.92 lakh persons out of which 9.46 lakh persons have responded.
(With inputs from agencies)
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