Odisha: IT lens on exchange of Rs 2,000 notes in RBI office
BHUBANESWAR: The Income Tax Department may launch a probe into ‘illegal’ exchange of Rs 2,000 currency notes at the Reserve Bank of India (RBI) office here by random people reportedly engaged on commission basis.
Sources said IT officials held a meeting on Wednesday after coming to know of long queue of people waiting outside RBI office for the second consecutive day to exchange Rs 2,000 currency notes for a meagre commission of around Rs 300.
It has come to the department’s notice that several people are exchanging Rs 2,000 denomination notes. Each of them is exchanging the notes amounting to a maximum of Rs 20,000. Prima facie it seems people who have engaged them to exchange Rs 2,000 notes are trying to evade taxes. Another meeting of IT officials will likely take place on Thursday to decide on the further course of action, said sources.
IT department sources said it will not be an easy task to identify people who are still in possession of several Rs 2,000 denomination notes and are trying to exchange them illegally by engaging financially weak individuals, mostly from the slums.
Sources said Economic Offences Wing (EOW) of Crime Branch also conducted an inquiry on the day and found out that it could possibly be a matter of tax evasion. It is not in EOW’s officers purview to initiate an action in this connection until they find any criminality in the matter, said sources.