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Govt may fight against 7 lakh shell companies on black money

Govt may fight against 7 lakh shell companies on black money

Tuesday, February 28, 2017, 6:24 PM

The government has expanded the ambit of its fight against black cash by shutting down "dormant" companies, suspected to be anywhere between 6 to 7 lakh. I-T department has gathered information on shell companies which made huge deposits of scrapped notes of Rs 500 and Rs 1,000 in banks. This data was further identified against PAN and registered address of suspected entities.
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