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Operation Clean Money
Shell companies under IT scanner; involvement in Benami transactions suspected
Wed, Nov 15, 2017
Banks started scanning all the account details of directors who were disqualified by the Ministry of Corporate Affairs as part of alleged shell companies.
DeMo: Income Tax department to issue notices to suspicious cash depositors
Tue, Nov 14, 2017
Sushil Chandra, chairman, Central Board of Direct Taxes (CBDT) said despite closing of I-T returns filing time period, a number of entities and individuals failed to file their tax returns, as required under the 'Operation Clean Money' (OCM) initiated by the government to check black money post demonetisation.
Project Insight likely to be launched next month; 7 things you need to know
Wed, Sep 13, 2017
The tax department had last year signed a pact with L&T Infotech for implementation of Project Insight, which is designed to strengthen the non-intrusive information driven approach for improving tax compliance.
Has demonetisation tackled black money? Finance Ministry explains in four points
Fri, Sep 01, 2017
On November 08, 2017, Prime Minister Narendra Modi announced the withdrawal of high-denomination currency notes like Rs 1000 and Rs 500 to tackle black money and terror financing.
I-T Department unearths income of Rs 5,400 crore post-note ban
Sat, Jul 22, 2017
"During the period from November 9, 2016 to January 10, 2017, more than 1,100 searches and surveys were conducted by the I-T Department apart from issuing more than 5,100 verification notices in the cases of suspicious high value cash deposits or related activities," Minister of State for Finance Arjun Ram Meghwal told the Lok Sabha.
Operation Clean Money Phase 2: IT Department identifies 5.5 lakh more people for cash deposit scrutiny
Fri, Jul 14, 2017
The Income Tax Department on Friday launched phase 2 of its Operation Clean Money. In the first phase, it had identified nearly 20 lakh people who deposited cash inconsistent with their incomes.
1.58 lakh tax payers under lens for partial account declarations
Wed, May 17, 2017
The tax department is conducting analysis in conjuction with previously available/analysed data. Such incremental data analysis has already led to identification of new cases for e-verification, I-T department said.
IT department to launch a website for operation clean money
Mon, May 08, 2017
IT department to launch a website for operation clean money. Watch this special segment and get to know more here.
IT dept launches 'Op Clean Money'-II; to probe 60,000 people
Fri, Apr 14, 2017
The Income Tax department will investigate over 60,000 individuals under the second phase of the 'Operation Clean Money' which was launched today with an aim to detect black money generation post demonetisation.
Nine lakh accounts under Operation Clean Money 'doubtful'
Thu, Feb 16, 2017
Nearly half of the 18 lakh people under the I-T scanner for suspicious bank deposits post cash ban have been put in the 'doubtful' category, but action against them will follow only after the new tax amnesty scheme ends on March 31.
Over 5.27 lakh taxpayers respond to IT department's 'Operation Clean Money '
Tue, Feb 14, 2017
"The explanation of cash deposit submitted by the taxpayer is being analysed in the context of nature of business and business profile in the earlier returns of the taxpayer," said the Ministry of Finance.
Tax dept scans 1-crore accounts under 'Operation Clean Money'
Sun, Feb 05, 2017
"We have initially matched 1-crore accounts with the profile in our database and identified 18 lakh people with suspicious deposits of over Rs 5 lakh. We will expand the scope of data analytics further and match the profiles with our data base," the source told PTI.
Deposits in lakhs made post-note ban under tax scanner: Officials
Thu, Feb 02, 2017
The first phase data from the government`s "Operation Clean Money", launched earlier this week, has revealed deposits worth lakhs of crores in old notes made after demonetisation into accounts and are being scrutinised by Indian tax authorities, senior officials have said.
Income Tax Department launches Operation Clean Money to verify demonetisation data with tax payers' filings
Tue, Jan 31, 2017
India's Income Tax Department has launched Operation Clean Money on Tuesday to verify deposited demonetised notes with tax payer's IT filings.