Polls make IT Department richer by Rs 27.72 crores

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The Income tax Department’s efforts to keep a strict watch on flow of money in poll bound states since March 1st has not gone waste. The department has managed to seize till date a total of Rs 27.72 crores as “unaccounted money” in cash from poll bound states.
The money was seized in states where Assembly Elections are being held- Kerala, Tamil Nadu, Puducherry, Assam and West Bengal to be precise. The Income Tax department has seized Rs 17.19 crore from Tamil Nadu and Puducherry, Rs 8.99 crore in West Bengal and Assam, and Rs 1.54 crore in Kerala.
Anjani Kumar, the nodal officer who is monitoring cash movements in Assembly elections stated that “the money is seized when the person concerned fails to furnish any evidence of it being part of the disclosed money. So, prima facie this is undisclosed or unaccounted money”. This monitoring is slated to continue till the last date of polling.

Tags: Tax News

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