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Income Tax Department found 90 Crore Cash with 100 Kg Gold in Chennai at Jewellers Home

The authorities of the Income Tax office attacked the homes of jewellers and sand mineworkers in Chennai and recuperated Rs. 90 crore in real money and 100 kg gold today. Assaults have been led at eight places in the city, sources said.

The discovered Rs. 8 crore in new currency notes and Rs. 65 crore in old banned currency notes of Rs. 500 and Rs. 1,000, sources said. The counting is still on.

The Income Tax Department has been directing consistent attacks since the government rejected high denomination notes of Rs. 500 and Rs. 1,000.

Till December 6, money and jewellery worth Rs. 130 crore had been seized and Rs. 2,000 crore of undisclosed riches conceded by citizens, the division said. The estimation of the gold seized today is Rs. 29 crore.

Since the ban on November 8, the division said it led “swift investigations“ around plus 400 cases. More than 30 cases were alluded to the Enforcement Directorate & the Central Bureau of Investigation for further examination.

To flush out black cash and stop fear financing through fashioned notes, PM Modi had reported on Nov 8 that Rs. 500 and 1000 notes will be rejected. Individuals were requested that store old notes in banks by December 30.

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