The PMO has asked the Income Tax Department to curb black money in banks

Jay Sairam

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The PMO has asked the Income Tax Department to curb black money in banks to reduce all black money deposited in banks. It is a clear order given to the Income Tax Department by the Prime Minister's Office, according to a high ranking government official, and this directive was issued within the days of the Reserve Bank of India, which found that 99% of 500 rupees and a bill of 1000 rupees The bill was paid. For banking system

Sources say that Prime Minister Narendra Modi gave priority to the tax department to give priority to ignoring black money in the speech of the Finance Ministry, Revenue Department, CBDT and CBEC at the closed door function on 1 September and 2 September. . Modi was speaking at the annual meeting of the tax department, event, revenue knowledge confluence

According to sources, the income tax department will now train its guns on "suspicious" and "unusual deposits" after the announcement of shooting on November 8, 2016. It will also raise more questions for establishment of unusual activity with previous income tax return, the source of wealth deposited in the Jan Dhan accounts, which increased compared to the amount of Rs. 64,564 crores, is also likely to be under the scanner.

On the other hand, when it comes to the recently rolled GST, it has been advised by the Prime Minister's Office that the tax department has not lodged GST complaint despite filing IT returns. However, the tax department will not leave all the individuals and companies who have not registered with the GST network.

An official from ET Now said, "The message is loud and clear. Do not go after those who are trying to complain for the first time, instead, focus on those people who are GST Are not favorable. "