In a move that is tacitly aimed at "naming and shaming" tax defaulters, the Narendra Modi government on Tuesday launched a website "Operation Clean Money." The portal will not only update information on tax raids, but also rate defaulters even as it said more than 5.68 lakh new cases are under the scanner.
The website was launched by Union Finance Minister Arun Jaitley in New Delhi.
The portal will rate defaulters as high risk, medium risk, low risk and very low risk. The highest level (high risk) will be subject to search, seizure and direct inquiry while those falling under medium risk will merely get messages from the taxman.
The decision to launch a dedicated website comes almost four months after the income tax department launched a drive called Operation Black Money primarily aimed at verifying large cash deposits into bank accounts following demonetisation of high-value currencies on November 8, 2016.
Giving updates, Union Finance Ministry said on Tuesday: "Operation Clean Money Phase I: 18 lakh persons identified; More than 9.72 lakh taxpayers submitted online responses for 13.33 lakh accounts involving cash deposits of around Rs 2.89 lakh crore."
5.68 lakh new cases identified for e-verification process
"Initial phase of the operation involves e-verification of large cash deposits made during 9th November to 30th December 2016. In the first batch, around 18 lakh persons have been identified in whose case, cash transactions do not appear to be in line with the tax payer's profile," the income tax department had said on January 31.
The department also gave an opportunity for such people to explain their position online. "The information in respect of these cases is being made available in the e-filing window of the PAN holder (after log in) at the portal https://incometaxindiaefiling.gov.in. The PAN holder can view the information using the link "Cash Transactions 2016" under "Compliance" section of the portal. The taxpayer will be able to submit online explanation without any need to visit Income Tax office," it said in the statement.
Interestingly, the launch of the website coincides with raids on RJD leader Lalu Prasad Yadav and Karti Chidambaram, son of Congres leader and former Union Finance Minister P Chidambaram.
