18 lakh persons identified by IT dept for online verification of cash deposits

Last updated: 31 January 2017

Income Tax Department (ITD) launches Operation Clean Money IncomeTaxDepartment(ITD) has initiatedOperation Clean Money,today. Initial phase of the operation involves e-verification of large cash deposits made during 9th November to 30th December 2016.Data analytics has been used for comparing thedemonetisation datawith information in ITD databases. In the first batch,around 18 lakh persons have been identifiedin whose case, cash transactions do not appear to be in line with the tax payers p
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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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