Demonetized currency worth Rs 34.5 lakh seized in Assam on way to Mizoram

GUWAHATI: Security forces have arrested two persons from Mizoram in Badarpur in Assam with Rs 34.5 lakh demonetised currency. Mizoram is a tribal state which enjoys income tax exemption.

Income tax officials are inquiring the case. The duo Sawm Thanga and Stephen Kama was travelling in a vehicle from Assam to Aizawl while they were detained along in Sirang Road.

Cachar Superintendent of police, Rakesh Roshan told, “This is a matter of Mizoram police and I will not able to say anything on it. We were sought security for some arrest and we provided the same.”

A senior official said that duo were carrying around Rs 34.5 lakh out of which Rs 30 lakh were demonetised 500 notes and rest are old 1000 notes. “The duo picked up money from someone in Badarpur and we suspect they were taking to deposit the same in Mizoram.”

Income tax department monitoring the transaction of tribal accounts in private and private sector banks after the Anato Zhimoni’s case.

Anato Zhimomi, a local businessman in Nagaland was being used by the industrialists from New Delhi and Haryana to park their money.

Charted jets flied as many as four times from Hisar to

Dimapur recently. Money handler Amarjeet Singh was held in Dimapur airport with Rs 3.5 Crore. This blew the lead of the thriving business of using the tribal accounts for parking unaccounted money.

Assam police has sounded alert asking banks to strictly monitor the bank accounts and keep hawk eye on deposits and withdrawal. Police has intelligence inputs which suggests that militants and unscrupulous elements may use new ways and means to exchange the old notes. These elements may target educational institutions where through intermediaries they may exchange or deposit money.

Banks along the interstate border of Assam-Nagaland, Assam-Arunachal Pradesh are kept under constant watch.

Special DGP law and order, Kuladhar Saikia said, “Militants and criminal elements may deposit huge amount in the name of educational institutes. Some may use middlemen, businessmen or contractors to deposit or exchange their old denominations. We have instructed the banks to keep a sharp eye in monitoring the accounts.”

According to section 10(26) of the Income Tax Act, a member of a Scheduled Tribe residing in any area specified in the Sixth Schedule of the Constitution – which covers autonomous administrative areas like Dima Hasao, Karbi Anglong and Bodoland Territorial Area District in Assam, and the Khasi, Jaintia and Garo hills in Meghalaya – or the states of Arunachal Pradesh, Manipur, Mizoram, Nagaland and Tripura, is exempted from paying tax on any income.