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IT Dept launches 2nd phase of Operation Clean Money, to probe 60000 people
The Income Tax department will investigate over 60,000 individuals under the second phase of the \'Operation Clean Money\' which was launched on Friday with an aim to detect black money generation post demonetisation.
NEW DELHI: The Income Tax department will investigate over 60,000 individuals under the second phase of the 'Operation Clean Money' which was launched on Friday with an aim to detect black money generation post demonetisation.
The Central Board of Direct Taxes (CBDT), policy-making body of the department, said it has detected undisclosed income over ₹9,334 crore between the period of 9 November, 2016 till 28 February this year.
The notes ban was announced by Prime Minister Narendra Modi on 8 November last year.
"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. 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 31 January 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.
