Demonetisation impact: Rs 30 crore unaccounted wealth seized in Karnataka, Goa

The I-T officials, who conducted raids on a few societies in and around Mangaluru, have found that people have exchanged currency notes amounting to Rs 8 crore.

By: Express News Service | Bengaluru | Published:November 19, 2016 3:11 am

The Income Tax Department for the Karnataka and Goa region has recovered nearly Rs 30 crore of unaccounted wealth from financiers, jewellery shops and co-operative banks since the NDA government’s demonetisation move, the department said in an official statement Friday.

Even as leaders like Karnataka Chief Minister Siddaramaiah demand the inclusion of co-operative banks in currency exchange activities, the I-T Department has raided a few co-operative societies in the coastal Karnataka region for accepting demonetised high value notes as deposits and converting them at a premium.

The I-T officials, who conducted raids on a few societies in and around Mangaluru, have found that people have exchanged currency notes amounting to Rs 8 crore through these societies.

For all the latest India News, download Indian Express App

  1. A
    arun dass
    Nov 19, 2016 at 6:04 am
    JAI HO , MODI EFFECT , EXCELLENT DEMONETISATION
    Reply
    1. K
      Keerthi Kumar
      Nov 19, 2016 at 4:50 pm
      The co-operative Banks are become heaven to Black mone people and chit funds also transact black money
      Reply