1st time ever! This Republic Day, Income Tax Department’s tableau will make its debut in parade

By: |
New Delhi | Updated: January 25, 2018 12:14:07 AM

Come January 26 and for the first time, an Income Tax Department tableau will roll down the Rajpath during the Republic Day parade, showcasing its special anti-black money drive that was launched post demonetisation.

Income Tax Department, Income Tax Department tableau, republic day parade, republic day parade tableau, operation clean money, black moneyCome January 26 and for the first time, an Income Tax Department tableau will roll down the Rajpath during the Republic Day parade, showcasing its special anti-black money drive that was launched post demonetisation.

Come January 26 and for the first time, an Income Tax Department tableau will roll down the Rajpath during the Republic Day parade, showcasing its special anti-black money drive that was launched post demonetisation. In line with Government’s vision to eradicate the menace of Black Money, the tableau of Income Tax department showcases ‘Operation Clean Money’ initiative which endeavours to ‘Create a tax compliant society through a fair, transparent & non-intrusive tax administration where every Indian takes pride in paying taxes.The tableau will depict the Operation Clean Money (OCM), its salient features and people’s contribution towards the drive which was launched by the I-T department on January 31 last year. Its two editions have been rolled out by the policy-making body of the I-T Department, the Central Board of Direct Taxes (CBDT), till now.

“The tableau will showcase the OCM which is an initiative of the taxman against black money,” a senior official was quoted as saying by PTI. “As the drive against black funds is a major flagship of the government, the tableau will speak about clean money and how it can be used to create a strong country,” the official added. He said this will be the first time that the department’s float will be a part of the Republic Day parade on the Rajpath, which witnesses representations from the armed forces besides various states and ministries.

Last year, the tableau of the Goods and Services Tax (GST) — which was touted as India’s biggest tax reform since Independence — was part of the January 26 parade. The float, the official said, will depict how clean money is required for the nation’s development and how it is important for the citizens to join hands in this ambitious drive. The words ‘OCM- Festival of Honesty’ will be displayed prominently on the float, the official said.

The OCM was launched by the government and the CBDT in order to check black money generation and tax evasion in the wake of the November 8, 2016, demonetisation of two big currency notes of Rs 500 and Rs 1000. The CBDT has said that demonetisation and the subsequent OCM led to an overall increase of 20 percent with respect to the people who file their I-T returns.

The I-T department had conducted 900 searches between November 9, 2016, and March last year, leading to seizure of assets worth Rs 900 crore including Rs 636 crore in cash. The searches had led to the disclosure of Rs 7,961 crore undisclosed income, according to official data.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1JNU violence: Supreme Court rejects plea for SIT probe, contempt action
2McDonald’s joint venture company opposes its plea in Delhi HC
3Uluberia Lok Sabha bypoll likely to be a contest between TMC and BJP