The government has unearthed undisclosed income worth Rs 14,706 crore post demonetisation—between November 2016 and March 2017. During the current financial year, IT department's searches have led to detection of Rs 2,820 crore.
"Information of various kinds of wrong-doings by about 400 persons was also shared with other law enforcement agencies such as Enforcement Directorate and Central Bureau of Investigation for appropriate action," said minister of state for finance Santosh Gangwar in Rajya Sabha.
The department had also launched ‘Operation Clean Money’ on January 31, 2017 under which about 18 lakh people whose cash transactions did not appear in line with their tax profile were identified.
More than 9.27 lakh responses were received giving information on 13.33 lakh accounts involving cash deposits of around Rs 2.89 lakh crore. Out of this, record number of 5.27 lakh responses were received in the first 12 days of the operation.
The finance ministry deployed advance data analytics tools which further identified 5.56 lakh new cases and about 1 lakh other cases in which either partial or no response was received in the earlier phase.
The minister also said that more than 11 lakh PANs (Permanent Account Numbers) have been identified as duplicate till July 27. Additionally, 1,566 PANs were found to be 'fake'. These were allocated to either non- existent people or in the names of people with fabricated identities.
