The Income tax department has obtained, through its data mining and intelligence tools, instances of unreported transactions involving an estimated amount above Rs. 2,000 crore.
The income tax department is on the job to verify all the details of these unreported deals and a major operation is already underway in India.
The total deals under the probe lens are 22,52,06,979.
The step is seen as a major drive to garner as much revenue as possible by the Income Tax before the fiscal closes and the budgetary target of Rs 5.32 lakh crore is achieved.
According to the official data of the income tax department, its officials are working on sale and purchase of house property by 6,23,384 individuals worth Rs. 30 lakh each.
27,50,545 people who made cash deposits aggregating to Rs. 10 lakh cr more in their savings banks during the financial years 2009-10, 2010-11
15,23,728 people who made payments of Rs. 2 lakh or more against their credit cards in the financial years 2009-10, 2010-11
33, 21, 695 people who acquired Mutual Fund units (of Rs. 2 lakh or more) / Bonds or debentures (of Rs. 5 lakh or more) / shares issued by a company (of Rs. 1 lakh or more) or Bonds issues by reserve bank of India (of Rs. 5 lakh or more) during the during the financial years 2009-10, 2010-11.
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