I-T department to crack the whip on black money hoarders

  • By TOI
  • | Tuesday | 13th February, 2018

These tax recovery officers have been given special monthly targets of property attachments and they can proceed immediately with the auction of the attached property. Also, emphasis was laid on the Operation Clean Money (OCM) data available with the department. They have declared their source of income and the department is verifying their claims. There are 1,416 people, who have not replied to the notices and legal action is being taken against them. However, efforts are being taken to check if Benami Transactions (Prohibition) Act can be invoked in such cases.

RAIPUR: To tighten the noose on black money hoarders and ensure proper implementation of the Income Tax department's ambitious scheme Operation Clean Money (OCM) in Chhattisgarh, Principal Chief Commissioner of Income Tax (CCIT) PK Dash chaired a meeting with Chhattisgarh 's I-T Chief Commissioner SSS B Ray and Principal Commissioner IT Raipur Ajit Korde.During the meeting, Dash directed all the officers to strongly focus on tax recovery campaign ( Aayakar Sangrahan Abhiyan ) and taxpayer base augmentation campaign ( Aayakar Vistaaran Abhiyaan ).

Also, emphasis was laid on the Operation Clean Money (OCM) data available with the department.

He said that it is difficult for the people to escape OCM as all types of data, including, bank deposits, property transactions, loans from shell companies are available with the department.

There is still time as return can be modified and filed before March 31, 2018.Dash also said that under Operation Clean Money till now, 5,190 notices were sent by email to persons who have deposited cash more than the prescribed limit.

Out of them, 3,769 persons have replied to the notices.

They have declared their source of income and the department is verifying their claims.

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