Snowed under an increasing workload after demonetization, income tax employees of Karnataka and Goa region have urged the Centre to increase manpower in the I-T department by filling up vacancies.
I-T employees have also suggested that the Centre take steps to curb black money, including imposing the prohibition on withdrawal from bank accounts showing suspect deposits, after November 8, the day PM Narendra Modi announced the currency ban.
In a letter to the PM, a joint platform of Income Tax Employees Federation and Income Tax Gazetted Officers' Association has requested Modi to set up a Special Task Force dedicated to the speedy and proper dissemination of information. "Sharing cash deposit information with the income tax department by banks on the real time basis is the most important step to curb black money ," the Joint Council of Action (JCA) said in the letter.
The JCA pointed out that banned currencies in the denominations of Rs 500 and Rs 1,000 are coming back into banking channels in a much higher proportion than what was initially expected, indicating that the hoarders of black money are trying to circumvent the process of demonetization by resorting to illegal means.
"This is also evident by the detection of huge amounts of cash stashed away in new currency notes during raids by the I-T department and other agencies, which suggests that generation of black money started from the moment demonetization was announced. There are also confirmed reports about the misuse of Jan-Dhan and other bank accounts, foreign exchange mechanisms, gold purchase and adoption of various other dubious means for investing the unaccounted-for cash," the JCA wrote.
Regarding manpower requirement, the JCA said there were about 35% vacancies in the department at crucial levels, including that of assistant commissioner (ACIT), deputy commissioner (DCIT) and joint commissioner (JCIT).
I-T employees have also suggested that the Centre take steps to curb black money, including imposing the prohibition on withdrawal from bank accounts showing suspect deposits, after November 8, the day PM Narendra Modi announced the currency ban.
In a letter to the PM, a joint platform of Income Tax Employees Federation and Income Tax Gazetted Officers' Association has requested Modi to set up a Special Task Force dedicated to the speedy and proper dissemination of information. "Sharing cash deposit information with the income tax department by banks on the real time basis is the most important step to curb black money ," the Joint Council of Action (JCA) said in the letter.
The JCA pointed out that banned currencies in the denominations of Rs 500 and Rs 1,000 are coming back into banking channels in a much higher proportion than what was initially expected, indicating that the hoarders of black money are trying to circumvent the process of demonetization by resorting to illegal means.
"This is also evident by the detection of huge amounts of cash stashed away in new currency notes during raids by the I-T department and other agencies, which suggests that generation of black money started from the moment demonetization was announced. There are also confirmed reports about the misuse of Jan-Dhan and other bank accounts, foreign exchange mechanisms, gold purchase and adoption of various other dubious means for investing the unaccounted-for cash," the JCA wrote.
Regarding manpower requirement, the JCA said there were about 35% vacancies in the department at crucial levels, including that of assistant commissioner (ACIT), deputy commissioner (DCIT) and joint commissioner (JCIT).