The Income Tax Department has selected 20,572 Income tax returns for detailed investigation. Reason being there were discrepancies in income before and after demonetization.
Moreover, as per an official, the department has identified 1 lakh cases of tax evasion for detailed investigation.
The I-T Department initiated the first phase of the Operation Clean Money+ on January 31, 2017, to check black money and stock funds in the wake of the withdrawal of Rs. 500 and Rs. 1,000 notes from circulation on November 8, 2016.
As per official data, 17.73 lakh suspicious cases involving Rs. 3.68 lakh crore were identified by the taxman in 23.22 lakh bank accounts post demonetization.