FM said that it is no longer safe to deal with excessive cash, tax-evaded money.
Government has added a new dimension to its fight against the black money in country as it launched a website ‘ Operation Clean Money ‘. The url of the new Website is as follows: https://www.cleanmoney.gov.in/
Union Finance Minister Arun Jaitley while inaugurating the website said that,”The new website will help the honest tax payers,”
Jaitley warned that those dealing in the black money and added that,”It is no longer safe to deal with the excessive cash, tax-ewarns Tax evaders.”
Finance Minister further stated that,”Fallout of November 8,2016 decision to demonetise the higher denomination currency has increased movement towards the digitisation, with the number of assessees going up and the tax revenue jumping as also fear of dealing in the cash being installed”.
He added that as many as 91 lakh persons have come under tax net, he expects further increase in tax returns going ahead”.
Central Board of Direct Taxes Chairman stated that,”Undisclosed income of Rs 16,398 crore has been identified post demonetisation period.”
Chairman Sushil Chandra further added that there was 22 per cent growth in the e-filed returns post demonetisation. As many as 17.92 lakh people were identified for the unexplained deposits post Operation Clean Money, Tax Department has identified about one lakh suspected tax avoidance cases.
Of 17.92 lakh, so far 9.72 lakh individuals responded to the SMSes and e-mails sent by Income Tax Department.