Govt denies media reports about Income Tax raids

Finance Ministry has denied media reports about Income Tax department's raids in Mumbai, New Delhi and Chandigarh and clarified that it was only a survey carried out in some locations of Delhi market, three locations in Mumbai and in other cities.

Senior officials of the Ministry said that the survey carried out as to how the traders opened the shop and transacted cash business after Prime Minister Narendra Modi's



demonetisation announcement and whether the traders followed transaction norms while accepting cash for purchases. 

The official clarified this on the backdrop of news appeared regarding multiple raids conducted by the Income Tax department in Delhi, Mumbai and other cities in the wake of reports of alleged profiteering and subsequent tax evasion by traders by converting withdrawn currency notes in an illegal manner.