Udayavni Special

Bulk of cash seized was political stash, says top I-T official


Team Udayavani, Jan 8, 2019, 8:42 AM IST

Bengaluru: The Karnataka-Goa income tax director-general B R Balakrishnan on Monday, January 7 said that the role played by the I-T department in the run-up to the Karnataka assembly elections was significant.

Not only was there the cash seizure of Rs 36.95 crore, but the bulk of the cash seized was actual political cash linked to elections and meant to influence the electoral outcome, Balakrishnan told reporters here.

As many as 80 searches were conducted by the department, out of which 60 cases were detected by in-house intelligence, he said.

The searches on various government contractors unravelled the entire modus operandi of generation of unaccounted cash by them for illegal funding of elections, he said.

In Mysuru, one such search led to cash seizure of over Rs six crore from benami lockers of contractors, Balakrishnan said.

The success of the investigation directorate in acting as a credible deterrence against tax evasion is evident from the substantial jump in the direct tax collections as well, he said.

Last year, the region had crossed the psychological barrier of tax collection of Rs 1 lakh crore and it now ranks third in all-India collection only after Mumbai and Delhi, Balakrishnansaid.

Till end of November 2018, the Karnataka-Goa income taxdirector general said his office had admitted and detected undisclosed income of Rs 4,038 crore and Rs 6,134 crore, respectively.

In 2017-18 financial year, the office had uncovered concealment of Rs 12,268 crore of which Rs 5,339 crore was admitted by taxpayers, he said.

The newly set up benami prohibition units in Bengaluru and Panaji have made 84 provisional attachments, attaching properties worth Rs 563 crore, he said.

Till date, 91 benamidars and 19 beneficial owners have been identified, he added.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

K’taka COVID-19 update: 1509 new cases, 1645 discharges, 24 deaths on Nov 22

Karnataka govt orders forming Veerashaiva-Lingayat Corporation with Rs 500 cr fund

NIA grills Sampath Raj in Bengaluru violence case

COVID-19: Less than 50,000 daily new cases for 16 days

PM says 2014-29 period ‘very important’ for India

Bihar MLA from Owaisi s party takes oath in Urdu,but insists word ‘Hindustan’ be replaced with ‘Bharat’

Comedian Bharti Singh, husband get bail in drugs case



Related Articles More

Yogesh Gowda murder case: Vinay Kulkarni’s judicial custody extended by 14 days

K’taka COVID-19 update: 1509 new cases, 1645 discharges, 24 deaths on Nov 22

UAE honours Bantwal-origin man with ‘golden visa’ for service during COVID-19 pandemic

Karnataka govt orders forming Veerashaiva-Lingayat Corporation with Rs 500 cr fund

CM BSY wears green shawl for fashion, doesn’t care about farmers’ issues: DKShi

MUST WATCH

Road Ashram’ campaign to study the effects of the novel coronavirus

Auto Rickshaw driver feeds stray dogs in Surathkal | Umesh Devadiga | Udayavani

First Female Auto rickshaw driver Vijayalakshmi from Surthakal

Science and Health Benefits of Ghee | Ayurveda Tips in Kannada

Nittur Swarna rice brand : A new kind of paddy crop by Nittur school children

Latest Additions

Govt plans to set up charging infrastructure across 69K petrol pumps

Yogesh Gowda murder case: Vinay Kulkarni’s judicial custody extended by 14 days

K’taka COVID-19 update: 1509 new cases, 1645 discharges, 24 deaths on Nov 22

UAE honours Bantwal-origin man with ‘golden visa’ for service during COVID-19 pandemic

Former Assam CM Tarun Gogoi passes away aged 86

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.