Press Esc to close
Monday 02 May 2016
News updated at 8:59 AM IST
Weather
Max: 36.6°C
Min : 24.4°C
In Bengaluru
Sunny day

I-T dept detects unaccounted assets worth over Rs 1,400 crore

New Delhi, May 5, 2013 (PTI)

Stepping up its effort to unearth black money, the Finance Ministry has detected unaccounted income and assets worth over Rs 1,400 crore during the first three months of this year.

The detection came to light after Financial Intelligence Unit (FIU), an agency tasked with analysing and disseminating information relating to dubious financial transactions, alerted Central Board of Direct Taxes (CBDT) about 32,000 suspicious banking transactions, official sources said.

Further investigations by the tax authorities on these Suspicious Transaction Reports (STRs) resulted in detection of unaccounted income and assets of Rs 1,408 crore, they said.

An STR involves a transaction of Rs 10 lakh and above, which gives rise to a reasonable ground of suspicion that it may involve the proceeds of crime including drug trafficking and illegal money.

As many as 32,098 STRs were sent by the FIU to CBDT, under which Income Tax department functions, between January and March this year. The tax sleuths have also seized assets worth about Rs 21 crore across the country, the sources said.

The CBDT, along with its field formation of tax officials spread across the country, is in the process of concluding the probe on some of these dubious transactions.

Sources said the CBDT is in touch with agencies concerned and state governments to finish its probe in these cases.

These STRs, sent by the FIU, were regarding banking transactions including cash deposits in bank, cheque clearances, inter and intra banking dealings between individuals.


Go to Top

Photo Gallery
Bollywood Actors Tiger Shroff and Shraddha Kapoor during promotion of their film Baaghi...

Bollywood Actors Tiger Shroff and Shraddha Kapoor during promotion of their film Baaghi...

Narendra Modi rides in an E rickshaw during distribution of E rickshaws in Varanasi...

Narendra Modi rides in an E rickshaw during distribution of E rickshaws in Varanasi...

RCB Skipper Virat Kohli with teamate Chris Gayle during an event at a mall in Bengaluru...

RCB Skipper Virat Kohli with teamate Chris Gayle during an event at a mall in Bengaluru...

A potter makes small earthen pots on International Labor Day, on the outskirts of Ajmer...

A potter makes small earthen pots on International Labor Day, on the outskirts of Ajmer...

Aishwarya Rai and Abhishek Bachchan poses with newly wed couple Bipasha Basu and Karan Singh...

Aishwarya Rai and Abhishek Bachchan poses with newly wed couple Bipasha Basu and Karan Singh...

A Mirage appears on the Rajpath as the mercury rises in New Delhi on Sunday...

A Mirage appears on the Rajpath as the mercury rises in New Delhi on Sunday...

eam Haas driver Esteban Gutierrez of Mexico, right, and Force India driver Nico Hulkenberg...

eam Haas driver Esteban Gutierrez of Mexico, right, and Force India driver Nico Hulkenberg...

A boy admires plastic balls put up for sale at India Gate lawns in New Delhi on Sunday...

A boy admires plastic balls put up for sale at India Gate lawns in New Delhi on Sunday...

Indian Air Force Helicopter collects water from Koteshwar dam during the rescue operation...

Indian Air Force Helicopter collects water from Koteshwar dam during the rescue operation...

Children enjoy in the waters of a fountain to beat the heat at India Gate as the mercury rises...

Children enjoy in the waters of a fountain to beat the heat at India Gate as the mercury rises...