BREAKING! CBDT Announces the Massive Amount of Money Seized by Income Tax Officials Since November 8th!

Nearly one and half month after demonetization, the Income Tax department which conducted more than 700 raids throughout the country said that they have been able to seize over 3,200 crores black money across the country. The CBDT, Central Board of Direct Taxes Chairman Sushil Chandra said until December 16th, a whooping amount of 3,200 has been recovered. They have raided houses of officials in government offices, mining mafia, jewellery shops, and even the Chief Secretary of the Tamil Nadu.

These places were raided after the Income Tax started receiving complaints from common people and many decoy customers in the banks who laid trap to catch black money holders. This is the first time in history that Income Tax has conducted massive 700 raids in just one month and have seized a massive amount of nearly 3,200 crores black money from various people. But these numbers are gradually increasing and this is approximate figure seized till December 16th. The Income tax and Enforcement Directorate officials have told that large amount of money seized are still under process of calculation.

They also informed that apart from hard cash, the unaccounted wealth in the form of gold, silver and jewels are still not included. Various properties have also been seized which also accounts to unaccounted wealth. Even as the report was released, the officials said there were massive raids in conducted today at Maharashtra where the IT dept. seized around Rs 35 lakh cash in new Rs 2,000 notes and 2.5 kg gold from six persons at Panvel.

The police from Varanasi have reported that five people have been arrested and over 700 kg of GANJA (Cannabis drug) worth 1 crore was seized along with Rs 9 lakh in cash. The police said that black money holders are trying to find new way to escape and hence are purchasing gold, drugs and high value products to escape raids.

From Haryana, the police have seized Rs 15.68 lakh cash in two luxury cars from Kurukshetra area of with nearly Rs 13.68 lakh was in new currency notes. In Kerala, unaccounted cash of Rs 51.86 lakh, almost all of them in Rs 2,000 denomination was seized by Kerala Excise officials. The two passengers were from Maharashtra, but were traveling from Bangalore to Kerala. In Gwalior, Madhya Pradesh a gang which was printing fake currency notes was busted and the police have arrested all four people from whom they have seized notes worth Rs 1.80 lakh which were in 100 rupee notes.

The police said that they have been keeping constant vigil in railway stations, bus stands since lot of money is being transported from different places. They have received strict orders from the central government to take every complaints and information seriously and to track the movements of suspicious people.

The Income Tax and ED have been quite successful in conducting raids throughout the country and huge amount of black money and unaccounted wealth of tax evaders and the rich are being squeezed!

Aishwarya S