Saturday, Apr 27, 2024 | Last Update : 12:12 AM IST
I-T detects Rs 4,807 cr black income; seizes Rs 112cr new notes
Since the note ban was declared in november last year, taxmen have carried our a total of 1,138 search, survey and enquiry operations.
New Delhi: Over Rs 4,807 crore of undisclosed income has been unearthed while Rs 112 crore worth new notes have been seized by the Income Tax department as part of its country-wide operations against black money hoarders post demonetisation.
Official sources said the taxman carried out a total of 1,138 search, survey and enquiry operations under the provisions of the Income Tax Act since the note ban was declared on November 8 last year. The department has issued 5,184 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 609.39 crore during the same period. New currency seized (majorly Rs 2000 notes) is valued at about Rs 112.8 crore. The value of the seized jewellery is Rs 97.8 crore.
"The total undisclosed income admitted or detected as part of this action, till January 5, is Rs 4,807.45 crore," they said.
The agency has also referred a total of 526 cases to its allied agencies like the CBI and the Enforcement Directorate (ED) to probe other financial crimes like money laundering, disproportionate assets and corruption as part of their legal mandate.
