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Demonetization Crackdown: 1.5 Lakh Tax Returns Filed Against 23.5 lakh Notices Sent
November 19, 2018
It’s been around 20 months since Operation Clean Money (OCM) was launched but the government says it doesn’t have complete information on the action taken against those suspected of depositing black money. However, an RTI query has revealed that although the Income Tax department had sent notices to 23.5 lakh suspicious persons, only 11.8 lakh of them had filed their income tax returns (ITR).
After demonetization, and between November 2016 and March 2017, the government conducted various searches that helped it seize ₹900 crores. It also conducted around 8,239 surveys that led to the identification of ₹6,745 crores worth undisclosed income.
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