Rs 316 cr sized in 291 raids across India so far, Rs 80 cr in new currency: CBDT

Government tax agency has so far seized cash of more than Rs 316 crore in various raids across the nation since the Narendra Modi government announced demonetization old notes of Rs 500 and Rs 1,000 denominations on Nov 8 to fight against black money and corruption. 

Revealing the data on black money crackdown, Central Board of Direct Taxes Chairman Sushil Chandra on Friday said, “We have so far seized cash of more than Rs 316 crore, out of which new currency is above Rs 80 cr, jewellery 76 cr, which amounts to total seizure 393 cr.”

“We have conducted searches and seizures in about 291 cases and carried out surveys in 295 cases,” Chandra said.

CBDT has also issued around 3000 notices on the basis of deposits in bank accounts, he revealed. 

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