IT Dept claims Operation Clean Money a massive success, over 5.27 lakh taxpayers submit response

The Income Tax Department on Monday claimed that Operation Clean Money has been receiving an overwhelming response as more than 5.27 lakh taxpayers submitted their response till February 12. To further encourage people the department has now decided to extend the deadline to February 15. 

IT dept had initiated ‘Operation Clean Money’ on January 31, 2017 for the e-verification of large cash deposits made during the period from November 9 to December 30, 2016. Email and SMS were sent to 18 lakh taxpayers for submitting online response on the e-filing portal. 

The operation has seen an overwhelming response and till 12th February, 2017 more than 5.27 Lakh taxpayers have already submitted their response, an official release said. 

“Out of the 7.41 Lakh accounts confirmed by the 5.27 Lakh taxpayers, the cash deposit amount has been confirmed in more than 99.5 per cent accounts.” 

The Department said that it was encouraged to note that taxpayers have increased the cash deposit amount in nearly 90,000 accounts and provided details of additional 25,000 bank accounts in which cash was deposited. The explanation of cash deposit submitted by the taxpayer is being analysed in the context of nature of business and business profile in the earlier returns of the taxpayer, it said. 

This exercise has identified around 4.84 lakh taxpayers not yet registered with the e-filing portal. SMS have been sent on the mobile number of these unregistered persons. 

Income Tax Department is keeping a vigil on the PAN holders who have still not registered on the e-filing portal or who have not yet submitted their online response. Such taxpayers are advised to register themselves at the e-filing portal https://incometaxindiaefiling.gov.in and submit online explanation.