New Delhi: It is not only the bank accounts, but your lockers too are being tracked by the Income Tax officials. This is part of the crackdown that the department has planned to unearth “suspicious” bank lockers. This follows reports that lockers are being used to keep undisclosed cash and jewellery.
If you operated your locker a number of times after note ban was announced on November 8, then you may be in trouble. The lockers in cooperative banks are being scrutinised more closely. The IT officials suspect that a large number of benami lockers were used to stash black cash and jewellery. The monitoring is being done to locate the real owners.
A benami locker is one that is used more by others than the person in whose name the locker has been issued. It has been found that people have rented their lockers for a cut, or in some cases they have allowed seniors at work, friends or relatives to keep cash or jewellery.
Most of the “suspicious” lockers, so far, have been reported from smaller towns, though such abuse couldn’t be ruled out in the cities as well, sources said.
Till now about Rs 600 crore in cash has been seized, apart from gold in form of jewellery. So far, undisclosed income of Rs 5,343 crore has been earthed by IT officials.
The IT department has records of huge gold sales immediately after note ban. IT officials suspect that most of the gold bought after note ban has been stashed in lockers. Once the suspicious lockers are traced, then finding the real owners will not be difficult. Once the real owners are found, they will be questioned about the source of income for buying the gold.