Hyderabad: The Income-Tax department has identified as many as 50,000 persons who are holding black money in Telangana state and Andhra Pradesh and has divided them in three categories
“Most are under the third category (above Rs 1 crore). We will concentrate and issue notices to the third category first, followed by the second and first. During a review meeting with I-T officials, from inspectors to the principal commissioner, on Tuesday, the proforma of the notice and auxiliary copies were finalised. We have started sending notices through Speed Post,” he said.
About identified assets, the official said, “We have evidence at the field level. The notices will have all the details of respondents’ assets purchased in the last one year with the list of document values and market values. We first insist they voluntarily reveal secret wealth. After September 30 though, we will hold massive raids on those who ignore summons. We also have data of those who do not have PAN cards and are holding undisclosed crores,” he said.
Apart from these 50,000 respondents, about two lakh tax evaders in the two Telugu states would receive notices from August 1.
