Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
Notice (8): Undefined variable: urlPrefix [APP/Template/Layout/printlayout.ctp, line 8]latest-news-updates/in-operation-clean-money-i-t-dept-to-probe-60000-people-now-arun-s-4681608.html"/> LATEST NEWS UPDATES | In Operation Clean Money, I-T dept. to probe 60,000 people now -Arun S | Im4change.org
Resource centre on India's rural distress
 
 

In Operation Clean Money, I-T dept. to probe 60,000 people now -Arun S

-The Hindu

As part of the first phase of the operation, the department had sent online queries and investigated 17.92 lakh persons out of which 9.46 lakh persons have responded.

New Delhi:
As part of the second phase of the 'Operation Clean Money' (OCM) launched Friday to unearth black money, the Income Tax department will probe over 60,000 individuals including 1,300 high risk persons for alleged excessive cash sales post demonetisation on November 8 last year.

Over 6,000 transactions of high value property purchase and 6,600 cases of outward remittances shall be subjected to detailed investigations under OCM, an official statement said.

The second phase of OCM involves identification of high risk persons through use of advanced data analytics, including integration of data sources, relationship clustering and fund tracking. The high risk categories identified include businesses claiming cash sales as the source of cash deposits which is found to be excessive compared to their past profile or industry norms; large cash deposits made by government or Public Sector Undertaking employees; persons who have undertaken high value purchases; persons who have used shell entities for layering of funds; and where no responses were received, the statement said.

Among the stated objectives of demonetisation was ‘elimination of Black Money’.  The opportunities created by demonetization is being used by the Income Tax Department (ITD) for widening and deepening of the tax base and create deterrence, not seen before, and to curb generation of black money. The complete exercise of examining all the doubtful and non-tax compliant accounts may take more than one year but with the help of technology and continuous enforcement action all the liable accounts will be brought to tax, the statement said.

Please click here to read more.