Say old Rs 500 and Rs 1,000 notes coming back to banking channels in much higher proportion than expected
New Delhi: Burdened by the deluge of suspected black money cases after demonetisation of high denomination currency, two staff associations of income tax (I-T) department have in a recent letter to Prime Minister Narendra Modi said they are reaching the breaking point.
"Personnel and infrastructure are severely short," the Income Tax Employees Federation and the Income Tax Gazetted Officers’ Association — representing almost all the staffers — wrote in the note.
"The entire department is totally de-motivated due to the huge shortage of manpower in lower cadres and huge stagnation in officers’ cadre," they said.
"(We) must have adequate manpower, especially at key positions, be provided with proper infrastructure facilities so that the workforce stays motivated, committed and highly spirited right at this moment," the memorandum added.
They say the old Rs 500 and Rs 1,000 currency notes are coming back to banking channels in much higher proportion than what was initially expected, indicating those with undisclosed money are circumventing the process of demonetisation.
"There are confirmed reports about misuse of (the) Jan-Dhan (scheme), as well as other bank accounts, foreign exchange mechanism, gold & bullion purchases, and adoption of various other dubious means for investing the unaccounted cash.."
Please click here to read more.