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18 Lakh People Identified in Black Money Involvement, IT Dept. to Take Action
September 01, 2017
In its annual report released on Wednesday, the Reserve Bank of Bank presented a variety of facts and figures, one of which that stuck out is the 18 lakhs identified individuals whose cash transactions have an anomaly that’s suggestive of black money.
The 18 lakh individuals were identified through the Operation Clean Money of the Income Tax department that was initiated on January 31 this year.
According to the RBI report, as many as 1 lakh individuals haven’t responded to the tax notices sent by the IT department under the Operation Clean Money. They are now under the department’s scanner.
