‘Operation Clean Money’-II launches by IT Department, to Probe 60,000 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.

More than 60,000 persons, including 1,300 high-risk persons, have been identified for the 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).

The Central Board of Direct Taxes (CBDT), the policy-making body of the department, said it has detected undisclosed income over Rs 9,334 crore between the period of November 9, 2016 till February 28 this year.

All the cases where no response is received shall also be subjected to detailed inquiries. 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 January 31 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.

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