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I-T detects Rs 3,185 crore of undisclosed income

Over Rs 3,185 crore of undisclosed income has been detected while Rs 86 crore worth new notes have been seized by the I-T 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 I-T 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.  
Agencies

Agencies

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