‘Operation Clean Money’ Website Launched, Tax Defaulters To Be Rated
Finance Minister Arun Jaitley launched the Operation Clean Money website today on which the Income Tax department will put up reports of raids. May 16, 2017 18:00 IST
Operation Clean Money website will give details on process by which tax defaulters are identified.
NEW DELHI: In its new campaign against black or untaxed money, the government will put up reports of raids on a website and also rate defaulters in various categories from high risk to very low risk.
Finance Minister Arun Jaitley launched the Operation Clean Money website today.
“We want to change habit from non-tax compliant to tax compliant,” said Sushil Chandra, chairman of Central Board of Direct Taxes (CBDT).
The Income Tax department will put up reports of raids on the website.
The website will give details on the process by which tax defaulters have been identified.
Action will be specified for various degrees of violations – high risk, medium risk, low risk and very low risk.
Sources say “high risk individual or groups” will face action like search, seizure and direct inquiry.
Those designated “medium risk” will be informed by SMS or email to take corrective measures, and low risk or “very low risk” defaulters will be watched.
The identity of individuals and groups under scanner will not be revealed, as per sources quoted.