Uttar Pradesh Income tax department said that any person carrying cash more than Rs 50,000 would have to show ID proof along with documents related to the source of the cash, in view of the Model code of Conduct.

“As per the Election Commission guidelines, any person carrying more than Rs 50,000 cash or bullion for his personal or business use till the Model Code of Conduct is in force is required to carry ID proof, address proof, documentary evidence of its source and its end use so that it can be produced before the authorities if required,” Income Tax Director General Krishna Saini , said here. 

A round-the-clock control room and complaint monitoring cell has been set up for better monitoring, he said adding air intelligence units at the airports have also been asked to remain alert.

In case of recovery of more that Rs 10 lakhs, besides the Income Tax department, Election Commission would also be informed of it, Saini added.

Source- PTI

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Category : Income Tax (26750)
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Tags : Income Tax Raid (53)

0 responses to “ID card must for carrying cash more than Rs 50,000: IT Dept”

  1. Nagma Saifi says:

    what does the specific meaning of Carry cash????
    Does it means cash in hand at the end of Financial Year????
    Please clear my doubt…

  2. C A K C AGARWAL says:

    Really this information is most important for every person,

    C A K C AGARWAL, ALLDD

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