Union Government launches Operation Clean Money portal

16 May 2017 The Union Minister of Finance, Arun Jaitley, officially launched the Portal of Operation Clean Money. in the presence of senior officers of the Ministry of Finance, Department of Revenue and the Central Board of Direct Taxes. While launching the portal, that the aim of the portal was to tell the tax evaders that they were not safe now. Income Tax will detect all the information related to black money.The Operation Clean Money was initiated by the Income Tax Department (ITD) on the 31st January, 2017 with the launch of e-verification of large cash deposits made during 9th November to 30th December 2016. In the first phase, around 18-lakh persons were identified in whose case, cash transactions did not appear in line with the tax payer’s profile. There has been an encouraging response to the online verification process and more than 9.72-lakh taxpayers submitted their response without visiting Income tax office up to 12th May, 2017. These taxpayers have provided response for 13.33-lakh accounts involving cash deposits of around Rs. 2.89-lakh-crore. The online responses have been assessed and no further action will be taken in cases of satisfactory explanation. Operation Clean It will also enabling Citizen Engagement for creating a tax compliant society where every Indian takes pride in paying taxes. Citizens would be able to support the Operation Clean Money by taking pledge, contribute by engaging and educating fellow citizens, and share their experiences and provide feedback.

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