The department of income tax has prepared a databank of suspected who have taken the help of 'entry operators' to shift unaccounted cash through banking channels in last few years.
According to ‘The Economic Times’ report, these operators are chartered accountants or middlemen who transfer money on clients behalf by operating multiple bank accounts.
These mediators provide cheques to recipients to alter unaccounted cash into legal tender. This is done against cash deposits in operators’ accounts of operators who later raise false bills for a commission of 1-2 percent.
Databank is based on information collected from entry operators who were raided by I-T officers in last couple of years, an officer told the paper.
Data has provided officials with the names of suspected and firms, involved in black money transactions.
I-T officials have compiled the data into a list, along with informations such as suspicious banking transactions, property registration and foreign bank accounts and identified as per PAN and area of residence of suspected tax evaders.
Nationwide identification drive of tax evaders who took the help of operators has been launched to force disclosures of black money under the Income Declaration Scheme launched by the Centre in June.