What happens to the money caught in elections?

Posted : April 10, 2014 at 3:26 pm IST by ManaTeluguMovies

money-caught-in-elections

Election commission had announced that more than 100 Crore unaccounted money was seized from Andhra Pradesh during the election season checkings. Is it all really the black money going to be used in election? No not all. Not at least half of it. Police are conducting random checks and are seizing all the big amounts they found. It is becoming tough for common man to show the required technical aspects of money inflow and outflow. As a result the cash is being seized.

The cash thus seized gets credited in the Police Deposit Fund (PDF) first. If the persons failed to answer about the source of the unaccounted money. The recovered money will be shown in the persons’ annual return. If the answers are not satisfactory, the matter will be presented before the local court. Many a times, Police are just over enthusiastic in seizing the cash and publicizing it in the media. But most of the cash is being released by IT department in hours after producing relevant proofs. Some times Police are even seizing the cash of firms who help in cash transportation to banks and other businesses.