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    IndiaT Deptt detects Rs 3,185 Cr black income; seizes Rs 86 Cr...

    T Deptt detects Rs 3,185 Cr black income; seizes Rs 86 Cr new notes

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    T Deptt detects Rs 3,185 Cr black income; seizes Rs 86 Cr new notes

    NEW DELHI: Over Rs 3,185 crore of un-disclosed income has been detected while Rs 86 crore worth new notes have been seized by the Income Tax department as part of its country-wide operations against black money hoarders post the demonetisation of two high value currencies by the Government.

     

    Official sources said the taxman carried out a total of 677 search, survey and enquiry operations under the provisions of the Income Tax Act since the note ban was declared on November 8, even as the department has issued over 3,100 notices to various entities on charges of tax evasion and hawala-like dealings.

     

    The department, they said, has seized cash and jewellery worth over Rs 428 crore during the same period even as the new currency seized (majorly Rs 2000 notes) is valued at about Rs 86 crore.

     

    “The total undisclosed income admitted or detected as part of this action, till December 19, is more than Rs 3,185 crore,” they said.

     

    The agency has also referred over 220 cases to its sister agencies like the CBI and the Enforcement Directorate (ED) to probe other financial

    Northlines
    Northlines
    The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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