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Operation Clean Money II To Probe 60,000 People
I-T dept launches second phase of Operation ‘Clean Money’, to probe 60,000 people.
The Income Tax department will investigate over 60,000 individuals under the second phase of the 'Operation Clean Money' which was launched today with an aim to detect black money generation post demonetisation. Major Operation "Clean Money" Drive At Income Tax Department
The Central Board of Direct Taxes (CBDT), the policy-making body of the department, said it has detected undisclosed income over Rs. 9,334 crore between the period of November 9, 2016, till February 28 this year.
The notes ban was announced by Prime Minister Narendra Modi on November 8 last year.
"More than 60,000 persons, including 1,300 high-risk persons, have been identified for the investigation into claims of excessive cash sales during the demonetization 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 enquiries," the CBDT said.
A senior officer said advanced data analytics has been used to identify suspect cash deposits before launching the latest edition of the operation.
As part of the first phase of the 'Operation Clean Money', launched on January 31 this year, the department had sent online queries and investigated 17.92 lakh persons out of which 9.46 lakh persons have responded to the department.
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