PTI
New Delhi
Tax department's ability to detect large cash transactions is being strengthened to check the menace of black money as bulk of it remains within India, Finance Minister Arun Jaitley said on Sunday.
"The monitoring regime of the income tax has been strengthened and its capacity to access information and apply technology driven analytical tools to expose evasion, has been enhanced. "Its ability to detect large cash withdrawals, or large cash transactions which enter the system, is being strengthened," he said in a Facebook post while listing out various measures being taken by the government to address the black money problem.
He also said that the Goods and Services Tax (GST) regime, once introduced, will also be a landmark step in this direction.
