Operation Clean Money: To curb the flow of black money in the country, the Income Tax department will question 18 lakh taxpayers, whose deposits post demonetization do not match with their tax-paying profile.
I-T department is going to questions while sending e-mail and SMS to the suspected people
I-T department has announced that the deposit of over Rs 5 lakh after November 8 will be under scanner. Revenue Secretary Hasmukh Adhia told that the department is going to send e-mail and SMS to those whose deposits don’t match with payment profile to enquire about such deposits.
On Wednesday, the department has launched operation clean Money under which CBDT with data analysis and profiling of assesses will send e-communications to folks who cash deposits after demonetization do not match their income.
“Operation Clean Money/Swachh Dhan Abhiyan is programming software which will be used to get answers on all the deposits made and after preliminary answers from the people. Then only, if need be, we would take legal action against those people,” Revenue Secretary Hasmukh Adhia said.
Replies will be filed on I-T dept official site
Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said people will be given10 days to reply to the e-communication and they will have to logged-in for filling replies through e-filling portal of the Income Tax department.
“In the initial phase, we are putting data of those persons who have deposited Rs 5 lakh or more and deposits between Rs 3 lakh and Rs 5 lakh of suspicious nature and who have poor tax compliance after November 8,” Chandra said.