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Wednesday, 4 January 2017

I-T department ropes in experts from Big Four to unearth black money

New Delhi: The pay charge office has reserved in criminological specialists from three of the Big Four bookkeeping firms to examine suspected tax evasion by government officials, civil servants and representatives, individuals straightforwardly mindful of the matter said.

Specialists from EY, KPMG and PricewaterhouseCoopers are working with expense authorities to analyze confirm gathered by the division amid strikes led since November 8, when the administration pronounced war on dark cash by demonetising.Rs 500 and .Rs 1,000 money notes.

A portion of the general population struck are suspected to have laundered cash through bookkeeping controls or acquired cash stopped abroad through the hawala highway, a man required in the examinations said, talking on state of secrecy. The division looked for assistance from outside agents with the ability to unwind such complex exchanges.

"Guilty parties may have utilized inventive approaches to store unaccounted cash by masking receipts or exchanges of assets as honest to goodness exchanges," said Rajiv Singh of Nalanda Law Associates. "In any case, the presence of a cash trail altogether expands the possibilities of social occasion implicating proof that could be utilized to arraign them."

Post demonetisation, the highprofile individuals the IT division attacked included Bahubali makers Shobu Yarlagadda and Prasad Devineni, two Karnataka government engineers asserted to be near Chief Minister Siddaramaiah and, all the more as of late, the main secretary of Tamil Nadu.