Demonetisation Aftermath: Income tax raid on doctors reveals undeclared income of Rs 35 crore

Nagpur: Post demonetisation, the strict stand of the Modi government against black money is now taking the form of income tax raids to recover undisclosed income from across the country.

One such raid was undertaken by the IT department recently on  medical practitioners associated with some of the top hospitals in the Nagpur region. TOI reports, that the raid, which was carried fortnight ago, has culminated in disclosures worth Rs 35 crores of unreported income. This includes cash worth around Rs 1.5 crores that was recovered from the doctors.  The total disclosed income will now be added back to their respective income and taxed accordingly, adds the daily

Pune Mirror goes on to add that the recovery came after the raids were conducted at the premises of the said doctors as well as after assessing six years of their documents. Some Highly placed sources at the I-T department told Mirror, “The action has been taken after acquiring information from our sources. All the nine doctors were not maintaining their book of receipts and were found guilty during our survey. All of them have accepted that they made incorrect transactions. Their dealings were made through cash. These surveys went on for three days from February 11 to 13. We seized Rs 35 crore of undisclosed income, including Rs 1.40 crore cash in new currencies along with gold worth Rs 80 lakh.”