IT Dept to closely monitor high transactions: Official

Chennai: As part of tightening its vigil on the use of unaccounted money during the campaign for the Lok Sabha polls, the Income Tax Department would closely monitor high level transactions across Tamil Nadu and Puducherry, a top official said here today.
” It (the use of unaccounted money) should not vitiate the election atmosphere.. There is no limit for carrying funds. But there should be substantial document supporting the funds. If there is any malpractice, it comes under the Income Tax law”, Chief Commissioner of Income Tax S Ravi told reporters here.
Asked about the appointment of special teams by the Election Officials in Tamil Nadu and Puducherry to seize unaccounted cash, he said the team by Income Tax department would coordinate with that team also.
Stating that during two incidents, an amount of Rs 51 lakh and Rs 19 lakh worth of bullion that was carried without proper documents were seized, Income Tax (Investigation) Director General T Jayasankar said “for a free and fair conduct of elections in Tamil Nadu and Puducherry, we will have a close surveillance in places like airports, railway stations, hotels,pawn brokers”.
—PTI