Black money: Tax sleuths probing 30,000 returns revised post note ban
The Income Tax department is probing over 30,000 cases of alleged tax evasion wherein the returns (ITRs) were revised by assessees post demonetisation, CBDT chief Sushil Chandra said on Monday.The Income Tax returns filed after November 8 last year were scrutinised against their earlier tax compliance following which these cases were detected, he said. "We are taking action in these instances," Chandra told reporters on the sidelines of an event to mark the 157th Income Tax day here. He said that after the first phase of 'Operation Clean Money', it was found that some assesses did not report about all their bank accounts to the taxman. Under the Operation Clean Money, the I-T department is contacting those whose bank account deposits were seen to be suspicious post the note ban. "We have found that they (assessees) have got more accounts...They have given less accounts in their replies (to the department). We have now informed them through email and ...