Income Tax Department have put the radar on more than 5000 people in both the Telugu States who have deposited currency in Lakhs and Crores post the Demonetization. IT sleuths have conducted about 12 raids and are planning to increase them as the deadline for Demonetization is coming to an end this month-end.
More than tracking the deposits through PAN Cards, Raids are proving to be effective. But then there is a severe dearth of staff to conduct such raids. The department is also taking the assistance of forensic experts and data analysis experts in their efforts to catch the Black Sharks.
The majority of deposits are identified in Hyderabad, Vijayawada and Visakhapatnam districts. The department has also identified a few banks in General Bazaar in Secunderabad, Begum Bazaar, Tolichowki, Somajiguda, Habsiguda and Old City helping the Black Money conversion and is going to unleash ED and CBI on them.