20,572 I-T Returns Under Scanner for ‘Detailed Investigation’

The department also had conducted 8,239 survey operations leading to detection of Rs 6,745 crore of black money.

The Income Tax Department has picked 20,572 tax returns for “detailed scrutiny”, suspecting discrepancies in incomes before and after demonetisation, official sources said on Monday.

They also said that the department has identified one lakh “high risk” cases of alleged tax evasion for detailed investigation.

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The IT department has conducted 900 searches between 9 November 2016 and March 2017, reported PTI. This has led to assets worth Rs 900 crore being seized, including Rs 636 crore in cash.

During the same period, the department is said to have conducted 8,239 survey operations, leading to the detection of Rs 6,745 crore of black money.

Over 39% PANs Linked With Aadhaar So Far

Over 13.28 crore Permanent Account Numbers (PANs) have been linked with Aadhaar so far, official sources said. This makes 39.5 % of all PANs.

The government made PAN-Aadhaar linking mandatory for filing Income Tax Returns and obtaining new Permanent Account Numbers on 1 July.

The Supreme Court had in June upheld the validity of an Income Tax Act provision, making Aadhaar mandatory for allotment of PAN cards and ITR filling, but had put a partial stay on its implementation till a Constitution bench addressed the issue of right to privacy, reported PTI.

(With PTI inputs)

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