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Poll related seizure by Income Tax department

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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