Operation Clean Money 2.0: I-T to probe deposits of Rs 5-10 lakh now

Tax wing scanning cash deposits between Rs 5-10 lakh

Following a poor response to the Pradhan Mantri Garib Kalyan Yojana (PMGKY), an income declaration scheme, the Income Tax (I-T) department is set to launch another drive to catch hold of tax evaders who could have deposited large sums during the demonetisation drive.

While the first phase of the so-called Operation Clean Money scrutinised cash deposits of over ~10 lakh, the second phase will examine deposits between Rs 5 lakh and Rs 10 lakh. 

A data analytics firm has already started the analysis of such cash deposits made during demonetisation drive. The information will soon be sent to the Central