Income Tax department launches ‘Operation Clean Money-II’

The Income Tax department has launched the second phase of the ‘Operation Clean Money’ to investigate over 60,000 individuals with an aim to detect black money generation post demonetisation.


The Central Board of Direct Taxes (CBDT), the policy-making body of the income tax department has detected the flow of black money into the banks amounting to over Rs 9,334 crore between November 9, 2016 and February 28, 2017. 
The first phase of ‘Operation Clean Money’ was launched on January 31, 2017. In the first phase, the department went through e-verification of large cash deposits into the banks after the demonetization and had sent online queries and investigated around 17.92 lakh persons.

Takeaways from above News-

  • IT department has launched ‘Operation Clean Money-II’
  • Operation Clean Money is launched with an aim to detect black money 
  • The first phase of ‘Operation Clean Money’ was launched on January 31, 2017
  • The Central Board of Direct Taxes (CBDT) is the policy-making body of the income tax department

If you have any other takeaways, do share with us in the comment section
Source- The Hindu

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