ALSO READ8.38 lakh people respond to I-T queries under Ops Clean Money Rs 5400 cr of undisclosed income detected post-demonetisation People can deposit money in parts under PMGKDS: FinMin Black Money menace: Centre launches 'Operation Clean Money' portal CBDTs 'Operation Clean Money' driving elimination of black money
The Income Tax Department has identified another 5.56 lakh individuals whose tax profiles are found inconsistent with the money deposited by them post demonetisation.
In the second phase of 'Operation Clean Money' launched in April with an aim to detect black money generation post demonetisation, the I-T department has used information received under the Statement of Financial Transactions (SFT) from banks to identify additional cases.
All identified persons are being informed through email and SMS for submitting their response online, it added.
Another 1.04 lakh persons who did not disclose all bank accounts during e-verification in the first phase of operation clean money have also been identified.
In the first phase of Operation Clean Money launched on January 31, 17.92 lakh persons had been identified for e- verification of large cash deposits, of which 9.72 lakh people had submitted online response.
At the time of launch of the second phase of Operation Clean Money, the I-T department had said it will investigate over 60,000 individuals, including 1,300 high risk persons.
The Central Board of Direct Taxes (CBDT), policy-making body of the department, had then said it has detected undisclosed income over Rs 9,334 crore between November 9, 2016 and February 28, 2017.
The information in respect of the cases and accounts identified has been made available in the e-filing window of the PAN holder in the e-filing portal of the I-T department.
The PAN holder can view the information using the link 'Cash Transactions 2016' under 'Compliance' section of the portal.
This information will be matched with the information in possession of the I-T department.
"The taxpayer should ensure that ITR is compliant with amount deposited in bank accounts during the period of demonetisation and while computing income, the amounts so deposited are considered/ taken into account while paying taxes," the statement said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)