IT dept raids jewelers in Odisha capital for third day

Odisha Sun Times Bureau
Bhubaneswar, Nov 13:

In the nationwide crackdown on black money, Income Tax department officials continued with their searches at various jewelers in the Odisha capital for the third consecutive day.

gold jewellery

Department officials are examining CCTV footages and cash records of jewelry shops based on a tip-off that black money holders could be using their money to buy gold ever since Rs 500 and Rs 1000 bills ceased to be legal tender, reports said.

The officials are also verifying whether jewelry shop proprietors have taken note of the buyer’s PAN Card number in the event of the gold purchase of Rs2.5 lakh and above.

However, the department is yet to come across any such kind of irregularities, sources said.

In the event of such irregularities coming to its notice the department will share with the Enforcement Directorate (ED), the sources added.