Election time means flouting tax rules? Rs 22 crore seized!

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Money
New Delhi, Apr 18: Income Tax Department said it has seized about Rs 22 crore unaccounted cash from individuals in five states where assembly elections are underway and also detected tax evasion to the tune of Rs 50-60 crore.

"The Central Board of Direct Taxes (CBDT) is working shoulder to shoulder with the Election Commission of India and as a result seized huge amount of cash in five states," CBDT Chairman Sudhir Chandra told reporters.

While no money was seized from any agent or political party, he said the amount recovered from "carriers" was to the tune of about Rs 20-22 crore.

The CBDT Chairman also said that following the seizure of money, searches were conducted leading to disclosure of tax evasion between Rs 50-60 crore and cases have been registered against them.

The seizures were made from people, who could not explain the source and purpose of fund to the concerned authorities.

Seizures were made amid suspicion that such funds could be misused for influencing voters, sources said.

Assembly elections are going on in five states -- Assam, West Bengal, Tamil Nadu, Kerala and Puducherry.

Chandra informed that CBDT has posted its officials in almost all the poll bound constituencies and also at airports.

The CBDT, he further said, had unearthed Rs 30,000 crore of unaccounted money in the last two years.

PTI

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