I-T detects over Rs 540 crore black money in last fortnight


The Economic Times reports:
Officials said the tax sleuths, in the first fortnight of the new financial year that began on April 1, have conducted multiple search and survey operations on entry operators (agents using banking channels to launder funds), shell firms, government officials, real estate players and other sectors. As per an official data compiled till April 15, the department has carried out "over 250 search and survey operations where the taxman raided at least 300 shell firms and detected more than Rs 540 crore of black money." The official added that a real estate broker in the national capital region, dealing in "unaccounted cash transactions on sale of property", was also covered by the department during the said period and tax sleuths have seized documents leading to tax evasion of more than Rs 50 crore.
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