Ludhiana: With Model Code of Conduct being in place, Income Tax department today said anybody carrying “heavy” amount of cash will have to explain the source in order to prevent its misuse in elections.
“Anybody carrying heavy cash will have to explain the source and its destination. Even banks have been asked to inform the Income Tax authorities in respect of withdrawals more than Rs 10 lakh in cash,” Income Tax Director (Investigations) H S Sohi told mediapersons here.
Sohi said no person travelling by air would be allowed to carry cash more than Rs 10 lakh and gold amounting more than one kg.
The violators will be apprehended by special teams of Central Industrial Security Force (CISF) deployed at the airports and they will hand them over to the Income Tax department for further investigations, he said.
He further said on the instructions of Election Commission, the department has set up 22 teams consisting of 5 to 6 IT sleuths each to check flow of money during the elections in Punjab.
“These teams will work in close collaboration with police surveillance squads deployed in the state,” he said.