The government has started the action of paying more cash in the bank accounts and not paying the returns. An action is being taken against nearly one lakh people who deposit notes during the note-book. Notice to those who deposit more than 50 lakhs There are also those who had deposited huge amount during the note-down but did not file income tax returns. According to sources, the Income Tax department has sent a notice to those who have deposited more than Rs. 50 lakhs. Income tax returns and profiles do not match
On the other hand, the 1 lakh people who had deposited huge amount during the note-offs, among them, the income tax returns of a large number of people are not matching with their profile. In this case, the Income Tax Department is in the mood of action against them. Identification of suspicious accounts The Income Tax Department started the first phase of 'Operation Clean Money' on January 31 this year to find out the money kept in black money and abroad. The government took this step last year on the eve of the decision to withdraw from 500 rupees and 1,000 rupees notes.
According to action sources in three phases, the Income Tax Department has formulated an action plan in three phases. In the first phase, those who deposit more than 50 lakh will be prosecuted, whereas, in the second phase, those who deposit more than Rs 25 lakh will be subjected. At the same time, those who deposit more than Rs 10 lakh in the third phase will be taken action. CBDT has ordered to send notice to all field officers. 17.73 lakh suspected cases involving Rs 3.68 lakh crore involving 23.22 lakh bank accounts have been identified by the tax authorities after the ban on account of official figures. In these cases, about 11.9 million people have received online answers from 16.92 lakh bank accounts so far. The Department of Income Tax Department, which ran 900 search campaigns, has run 900 search campaigns from 9 November 2016 to March this year. In these campaigns, he has seized assets worth Rs. 900 crores, including cash of Rs. 636 crores.
According to official statistics, an undisclosed asset of Rs 7,961 crore was announced from this inquiry campaign It said that during this period, the department also carried out 8,239 surveys, which detected black money worth Rs. 6,745 crore.