CBDT Press Release on Operation Clean Money dated 14-04-2017
1. Operation launched on 31-01-2107
2. In first phase , online response was requested from 17.92 lakh persons
3. Response received from 9.46 lakh persons
4. Online queries raised from 35000 cases
5. Online verification completed in more than 7800 cases.
6. In cases where the cash deposit has been declared under Pradhan Mantri Garib Kalyan Yojna (PMGKY), the verifications would also be closed.
7. In next phase, high risk categories are :
a) businesses claiming cash sales as the source of cash deposits which is found to be excessive compared to their past profile or industry norms
b) large cash deposits made by government or PSU employees;
c) persons who have undertaken high value purchases
d) persons who have used shell entities for layering of funds
e) and where no responses were received
8. More than 60,000 persons, including 1300 high risk persons, have been identified for investigation into claims of during the demonetisation period.
9. More than 6000 transactions of high value property purchase and 6600 cases of outward remittances shall be subjected to detailed investigation
10. All the cases where no response is received shall also be subjected to detailed enquiries.
11. More than 2,362 search, seizure and survey actions have been conducted by ITD during 9th November 2016 to 28th February 2017, leading to seizure of valuables worth more than Rs.818 crore, which include cash of Rs.622 crore, and detection of un-disclosed income of more than Rs.9,334 crore.
12. More than 400 cases have been referred by ITD to the Enforcement Directorate and the CBI. Surveys have been conducted in more than 3400 cases by Assessment Units.
13. There is increase of 21.7 % in the returns of Income received in FY 2016-17;
14. There is 16% growth in Gross Collection, the highest in the last five years; 14% Growth in Net Collection – the highest in last three years and above 18%, 25% and 22% growth in Personal Income Tax, Regular Assessment Tax and Self-assessment Tax respectively.
15. The complete exercise of examining all the doubtful and non-tax compliant accounts may take more than one year but all the liable accounts will be brought to tax.