Income Tax dept. launches 'Open Clean Money' phase II to probe 60,000 people

Income Tax dept. launches 'Open Clean Money' phase II to probe 60,000 people

The Income Tax department will investigate over 60,000 individuals under the second phase of the 'Operation Clean Money' which was launched today 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. "More than 60,000 persons, including 1,300 high risk persons, have been identified for investigation into claims of excessive cash sales during the demonetisation period.