‘Common Platform for Agencies Needed to Unearth Black Money’

Kolkata: Income Tax officials on Thursday called for a common platform for various agencies to unearth black money and for seamless investigations.

“Implementing authorities like Income tax, Customs and Excise, Enforcement Directorate and others have to work together, hand in hand. There are many angles of the investigation, which cannot be dealt with only one agency and others might also be required.

There is a need for common platform,” said Director General of Income Tax (Investigation), East, Pranab Kumar Das at an event of the Calcutta Chamber of Commerce. He stressed that making policies and acts alone would not be enough to tackle the menace of black money.

The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, along with the introduction of Benami Transaction Act and the amendment in Income Tax Act, have been facilitating the agencies to curb generation of black money, Das said. (IANS)

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