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Income Tax Department To Probe 60,000 People In Phase Two Of Operation ‘Clean Money’ 

Income Tax department will investigate over 60,000 individuals under the second phase.



Indian five hundred rupee banknotes are arranged for a photograph in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)
Indian five hundred rupee banknotes are arranged for a photograph in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

The Income Tax department will investigate over 60,000 individuals under the second phase of the 'Operation Clean Money' which was launched with an aim to detect black money generation post demonetisation.

The Central Board of Direct Taxes (CBDT), policy-making body of the department, said it has detected undisclosed income over Rs 9,334 crore between the period of November 9, 2016 till February 28 this year.

The notes ban was announced by Prime Minister Narendra Modi on November 8 last year.

Income Tax Department To Probe 60,000 People In Phase Two Of Operation ‘Clean Money’ 

"All the cases where no response is received shall also be subjected to detailed enquiries," the CBDT added.

A senior officer said advanced data analytics has been used to identify suspect cash deposits before launching the latest edition of the operation.

As part of the first phase of the 'Operation Clean Money', launched on January 31 this year, the department had sent online queries and investigated 17.92 lakh persons out of which 9.46 lakh persons have responded to the department.