Thursday, 2 February 2017

Operation clean money by income tax department





Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 31st January, 2017.
Press Release


Income Tax Department (ITD) launches Operation Clean Money [स्वच्छ धन अभियान]
Income Tax Department (ITD) has initiated Operation Clean Money, today. Initial phase of
the operation involves e-verification of large cash deposits made during 9th November to 30th
December 2016. Data analytics has been used for comparing the demonetisation data with
information in ITD databases. In the first batch, around 18 lakh persons have been identified in
whose case, cash transactions do not appear to be in line with the tax payer’s profile.
ITD has enabled online verification of these transactions to reduce compliance cost for
the taxpayers while optimising its resources. The information in respect of these cases is being
made available in the e-filing window of the PAN holder (after log in) at the portal
https://incometaxindiaefiling.gov.in. The PAN holder can view the information using the link “Cash
Transactions 2016” under “Compliance” section of the portal. The taxpayer will be able to
submit online explanation without any need to visit Income Tax office.
Email and SMS will also be sent to the taxpayers for submitting online response on the e-
filing portal. Taxpayers who are not yet registered on the e-filing portal (at
https://incometaxindiaefiling.gov.in) should register by clicking on the ‘Register Yourself’ link.
Registered taxpayers should verify and update their email address and mobile number on the e-
filing portal to receive electronic communication.
A detailed user guide and quick reference guide is available on the portal to assist the
taxpayer in submitting online response. In case of any difficulty in submitting on line response, help
desk at 1800 4250 0025 may be contacted.
Data analytics will be used to select cases for verification, based on approved risk criteria. If
the case is selected for verification, request for additional information and its response will also be
communicated electronically. The information on the online portal will be dynamic getting updated
on receipt of new information, response and data analytics.
The response of taxpayer will be assessed against available information. In case explanation
of source of cash is found justified, the verification will be closed without any need to visit Income
Tax Office. The verification will also be closed if the cash deposit is declared under Pradhan Mantri
Garib Kalyan Yojna (PMGKY).
The taxpayers covered in this phase should submit their response on the portal within 10
days in order to avoid any notice from the ITD and enforcement actions under the Income-tax Act
as also other applicable laws.


 (Meenakshi J Goswami)
 Commissioner of Income Tax
 (Media and Technical Policy)
 Official Spokesperson, CBDT.

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