Operation Clean Money Portal (www.cleanmoney.gov.in) launched by IT Deptt.

Operation Clean Money Portal: New Website launched by Income Tax Deptt. (ITD) to boost voluntary compliance

The CBDT has launched a dedicated website/ portal named as Operation Clean Money, under Phase II, to encourage voluntary tax compliance by Taxpayers. This portal provides comprehensive information (FAQs, etc.) and procedures for transparent tax administration.

Operation Clean Money Portal Launched: CBDT Press Release dt. 16 May 2017

The Operation Clean Money has been initiated by ITD on 31 Jan. 2017 with launch of e-verification drive relating to large cash deposits during demonetization. In Phase I, around 18 lakh persons were identified, whose cash transactions did not appear in line with their tax profile.

Under the online verification process, 9.72 lakh taxpayers submitted response,  upto 12 May 2017, without visiting Income tax office. These taxpayers have provided details of 13.33 lakh accounts involving cash deposits of around Rs. 2.89 lakh crore. The online responses have been assessed and no further action will be taken in cases of satisfactory explanation.

Salient Features of Operation Clean Money Portal

The salient features of Operation Clean Money Portal launched by Income Tax Deptt are as under:

i) Providing comprehensive information at one place, consisting of Step by Step Guides, FAQs, User Guides, Quick Reference Guides and Training Toolkits, related to verification process and other issues.

ii) Enabling Citizen Engagement for creating a tax compliant society. Citizens can support operation clean money by taking pledge, engaging and educating fellow citizens, sharing their experiences/ feedback.

iii) Enabling Transparent Tax Administration by sharing status reports and thematic analysis reports.

While launching the Operation Clean Money Portal, the Income Tax Deptt. has deployed two specialised data analytics agencies and a business process management agency, to augment departmental capability in analyzing large volume of cash deposit data and to track the compliance status of taxpayers/ reporting entities.

Targeted Campaigns under Operation Clean Money Phase II

High risk cases will be handled by selecting appropriate enforcement action (verification, search, survey, scrutiny) through targeted campaigns. The key components of the targeted campaign are:

i) Communication of specific issue through digital channels (Email, SMS etc.).

ii) Providing detailed explanation to create environment of transparency.

iii) Sharing investigation findings for specific segments (e.g. Jewellers, petrol pump, traders, property purchasers etc.).

iv) Centralised monitoring and gradual escalation of inadequate response cases for enforcement action.

With flow of information from sources, like Statement of Financial Transactions (SFT), ITD is conducting analysis with previously available data. Such incremental data analysis has led to identification of new cases for e-verification. Also the ITD has identified 3.71 lakh new accounts relating to 1.58 lakh taxpayers, who made partial declaration of accounts/ amounts in their earlier responses.

Also, the CBDT had earlier issued a Press Release on 14 Apr. 2017 indicating various facts and figures on Operation Clean Money (OCM) with statement on progression to Phase II, as under:

Operation Clean Money (Phase II): CBDT Press Release dt. 14 Apr. 2017

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