Jewellers shut shops for 5th day after Income Tax survey

The survey operations were carried out on November 10 in at least four locations in Delhi-NCR region, including Dariba Kalan, Chandni Chowk and Karol Bagh.

By: PTI | New Delhi | Updated: November 15, 2016 5:49 pm
demonetisation, 500-1000 notes invalid, people buying gold, cash into gold, curb black money, jewellers in Delhi, jewllery shops shut, demonetisation effect, indian express news Photo for representational purpose.

Gold and jewellery establishments in the national capital remained closed for the 5th day on Tuesday, after the Income Tax Department conducted surveys following reports of alleged profiteering and tax evasion by traders and other operators in reported conversion of demonetised notes. The survey operations were carried out on November 10 in at least four locations in Delhi-NCR region, including Dariba Kalan, Chandni Chowk and Karol Bagh.

Most jewellery houses have been closed since November 11 in the national capital. According to the sources, the officials of Directorate General of Central Excise Intelligence (DGCEI), an arm under the Finance Ministry, has sent notices to these jewellers seeking details of the gold sales.