The income tax department has deployed its sleuths to keep a close watch on election expenditure and flow of black money during the Lok Sabha elections, which is scheduled to be held on May 12 in Giridih and Dhanbad Lok Sabha constituencies, informed RK Choudhary, ITO Headquarter, Dhanbad.
Aiming to curb the use of black money during the elections, the IT department has constituted Quick Response Teams, which will keep a close watch on suspicious cash transactions and cash movements, he said.
The teams are at work in all districts of the State. “In case of any suspicious transactions our complaints monitoring cell will transfer the information about cash movements to these teams in their corresponding areas,” said Choudhary.
In case of carrying cash of sum of Rs 50,000 or more the IT department can seek explanation and proofs regarding the source form the person. Cash will be seized if the holder fails to reply satisfactory explanation or failed to produce proper evidences such as ATM withdrawal receipt including others, he said.
The income tax officials must be called, if the surveillance teams deployed by the district administration recover huge cash from a person, for the verification of the source of the cash, he said.
This team will also keep an eye on the Lok Sabha contestants and on their income and properties disclosed by them, he said.
