4,000 People Have Tipped Off IT Department About Black Money Via Email. Have You?

Since Friday, when blackmoneyinfo@incometax.gov.in was made public the email-id has been swamped with 4,000 messages. These messages join the large amounts of data flowing to tax authorities and other investigative agencies on a daily basis about deposits in bank accounts and other undeclared income within the Financial Intelligence Unit (FIU), part of the finance ministry.

“We are getting a good response," a finance ministry official told Economic Times.

The email was unwrapped along with the rules for the Pradhan Mantri Garib Kalyan Yojana income declaration scheme for people to send information about possible money laundering.

The sent emails will boost the government's ongoing efforts to tackle black money. The data received is related to deposits in Jan Dhan and urban cooperative bank accounts, loan repayments, credit card payments, electronic transfers, withdrawals. All banks are obliged to report doubtful transactions to the FIU.