Finance Ministry denies nation-wide searches by IT department on stock brokers

It is being reported in some sections of the media that nation-wide searches are being conducted by the Income Tax Department on stock brokers and other stock market intermediaries.

There is no truth in such reports. There are no nation-wide searches being conducted by the Income Tax Department. No searches are being conducted on stock brokers and other stock market intermediaries as erroneously reported in the media.

Source : Press Information Bureau

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