Demonetisation: Taxpayers disclose Rs 2,000 crore in unaccounted money, says Finance Ministry

Bengaluru saw the maximum number of seizures of old high denomination notes by the Enforcement Directorate.

By: Express Web Desk | New Delhi | Updated: December 6, 2016 5:55 pm
kerala, kerala pay day, pay day demonetisation, demonetisation pay day, demonetisation salaries, pension and salary lines, kerala pensioners, kerala govt employees, demonetisation problems, india news Bengaluru saw the maximum number of seizures of old high denomination notes by the Enforcement Directorate.

Close to Rs 2,000 crore of untaxed income was disclosed since demonetisation, the Ministry of Finance announced Tuesday. The Income-Tax department probed over 400 cases of alleged disproportionate assets and Rs 130 crore in cash and jewellery was recovered, since the November 8 announcement recalling old high tender notes. Bengaluru saw the maximum number of seizures of old high denomination notes by the Enforcement Directorate, the ministry revealed. In over 30 cases, the Central Board of Direct Taxes (CBDT) found serious irregularities that are beyond the purview of the I-T Act; they have been referred to the ED and Central Bureau of Investigation.

On December 2, the I-T department seized huge bundles of Rs 2000 notes, worth over Rs 4 crore, along with other notes of lower denominations. The cash was seized during raids on the premises of two engineers and two contractors. The I-T sleuths also seized several high-end sports cars, including a Lamborghini.

Updates to follow

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