Monitoring at airports, train, stations for illegal cash transfers by Income Tax Department

Monitoring at airports, train, stations for illegal cash transfers by Income Tax Department

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Monitoring at airports, train, stations for illegal cash transfers by Income Tax Department

With election time ahead, cash movement is all the more under scanner. Now,  State Election Commission (SEC) has urged the Income Tax (I-T) department to monitor airports and railway stations as transit points for illegal money transfers during the forthcoming Lok Sabha and State elections.
Among the measures to curb the flow of black money and illegal cash, the SEC is drawing teams not only from the I-T department but also other revenue services such as Customs and Excise departments.
During the elections in 2014, EC had seized ₹15.29 crore in cash and 2.84 lakh litres of illicit liquor worth ₹82.85 lakh from across the State.
The department has also been asked to monitor the statement of expenses submitted by candidates once the elections are declared.
The investigation wing of the I-T Department presented a list of major contract payments made in the State and discussed preparations for monitoring sensitive constituencies and booths.
Cash transactions have always been under scanner otherwise also by the Income Tax Department.
There are expected to have a strong checking and control over the baggage carried out by the passenger. Citizens need to understand that it’s not only action under Income Tax Act that could be initiated but also under other Acts also could be initiated if cash is  it satisfactorily explained. As if now, there is no rule which prohibits the carrying of cash by the citizens.

 

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