The Income Tax Department on Friday said it had identified another 5.56 lakh people whose tax profiles did not tally with the money they deposited post demonetisation. They were identified during the department’s work on Operation Clean Money, launched in January.
In the second phase of the initiative, the I-T Department had used data from banks’ Statement of Financial Transactions to identify such cases.
Another 1.04 lakh individuals who did not disclose all their bank accounts during e-verification in the first phase of Operation Clean Money have also been identified. IT sleuths have been carrying out e-verification of large cash deposits made during the demonetisation drive.
In April, more than 60,000 people, including 1,300 high-risk persons, had been identified for investigation into “claims of excessive cash sales during the demonetisation period.”