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Tax dept scans 1-cr accounts under Operation Clean Money

Tax dept scans 1-cr accounts under Operation Clean Money - News and Press Release - Dated:- 6-2-2017 - New Delhi, Feb 5 (PTI) In a bid to clamp down on unaccounted money funnelled into bank accounts post demonetisation, the tax department has scrutinised and matched as many as 1-crore accounts and asked 18 lakh people to explain the source of fund. The tax department has run big data analytics through more than 1-crore accounts in its data bank and done matching with the taxpayer profile of the .....

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'Operation Clean Money'. We have initially matched 1-crore accounts with the profile in our database and identified 18 lakh people with suspicious deposits of over INR 5 lakh. We will expand the scope of data analytics further and match the profiles with our data base, the source told PTI. In order to reduce harassment of taxpayers, the revenue department has mandated only officers in the rank of Assistant Commissioners and above to issue notices in case of unsatisfactory response recei .....

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