IT department has 'no precise data' on black money recovered post DeMo: report

After two years of demonetisation, a step taken to curb black money, Income Tax officials have said that they don't have any estimates on the amount of illicit funds recovered, Business Line reported.

“Different components like the Income Declaration Scheme, the Pradhan Mantri Garib Kalyan Yojana, demonetisation, the Benami Transaction (Prohibition) Act, the Black Money and Imposition of Tax Act, etc form the lumpsum of efforts to tackle the menace of black money, and precise statistics regarding the above are not readily available with this office,” said the Directorate of Income Tax (DIT-Systems) in response to a query filed by Business Line under the Right to Information Act.

On a different query on the estimated black money that may be recovered, DIT (Systems) said that the estimation and prediction of the black money recovered does not fall under the purview of information, and hence, cannot be provided under the RTI Act, the report added.