Poll related seizure by Income Tax department
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Last Updated: Tuesday, March 22, 2011, 14:23
Guwahati: The Income Tax department has seized Rs 1 crore in cash, Rs 2 crore in gold and some silver in Assam following guidelines issued by the Election Commission to crackdown on unaccounted cash in the run up to the polls in the state.

The department also received information of cash being carried by air which was forwarded to other directorates outside the region leading to seizure of Rs 50 lakh in cash, Director of Income Tax (Investigation), Northeast Region TM Das said.

The department has also started the process of scrutinising the affidavits filed by candidates declaring assets and verifying these with information already available with the department for reporting to the Election Commission along with details of any suppression or information about assets and liabilities or pending dues, he said.

The department is further preparing a report about those political parties which are taking donations and enjoying tax exemptions without auditing their accounts or without filing statutory returns.

Financial authorities, banks and financial institutions have also been requested by the Election Commission to report any suspicious withdrawal of large amounts of cash from any bank account of any individual and such activities are being actively monitored by the Income Tax department, Das pointed out.


First Published: Tuesday, March 22, 2011, 14:23

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