IT Dept Seized Over Rs. 7.33 crores

Ahead of the phase-II of Lok Sabha Elections, the Income Tax department has seized over Rs. 7.33 crores from the seven States of Northeast India. The officials of Directorate of Investigation of Income Tax department informed about the seizure.

The officials of the department also informed that they have initiated several inquiries regarding the seizures. The IT Department has ordered the banks to report all deposits and withdrawals above Rs. 10 lakhs to the Investigation Wing of the department.

Notably, focusing on the general elections, the department had intensified the drive against the flow of undisclosed money in collaboration with the police, CISF, banks and several other government agencies. It has been actively monitoring high value suspicious transactions of cash deposits and withdrawals in banks.

The officials of the IT department further informed that they have been also monitoring the choppers and charter planes used by the political parties to campaign in the region.