<img title="Rs 510 cr cash was seized in raids. Pic for Representation" src="http://images.mid-day.com/images/2017/apr/10-rupay.jpg" alt="Rs 510 cr cash was seized in raids. Pic for Representation" /> Rs 510 cr cash was seized in raids. Pic for Representation
New Delhi: A whopping Rs 5,400 crore worth of "undisclosed income" has been detected by law-enforcing agencies till January 10 since demonetisation came into force last November, the government has told the Supreme Court.
It also made references to "various malpractices" which came to fore post demonetisation, including the use of old currency notes for buying gold.
It said that after the demonetisation period of November 9 to December 30, 2016, the Income Tax department had initiated "Operation Clean Money" on January 31 to leverage technology and data analysis for e-verification of the cash deposits made during that period.
The Ministry of Finance in an affidavit said that between November 9, 2016 and January 10, 2017 alone, there were more than 1,100 raids/surveys conducted by Income Tax Department on various persons. "As a result of the raids and other strict measures enforced, more than Rs 610 crore in cash (including cash of Rs 513 crore out of which Rs 110 crore was in new currency) and valuables were seized by the IT Department and other government agencies. The undisclosed income detected in the above actions was more than Rs 5,400 crore," the affidavit said.

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A whopping Rs 5,400 crore worth of&nbsp;"undisclosed income"&nbsp;has been detected by law-enforcing agencies till January 10 since demonetisation came into force last November, the government has told the Supreme Court

Rs 5,400 cr worth undisclosed income detected: Government to SC

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Home / News / India News / Article / Rs 5,400 cr worth undisclosed income detected: Government to SC

Rs 5,400 cr worth undisclosed income detected: Government to SC

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