Income Tax Searches lead to Admission of Undisclosed Incomes of 2600 Crore since 8th November, 2016

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..... Income Tax Searches lead to Admission of Undisclosed Incomes of 2600 Crore since 8th November, 2016
News and Press Release
Dated:- 17-12-2016

The Income Tax Department has continuously b .....

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..... een carrying out investigations since the de-monetisation of Old High Denomination (OHD) currency announced by the Government on 8th November, 2016. While Searches have been carried out in 291 cases a .....

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..... cross the country, 295 cases have been covered by survey action. In addition to these, open enquiries have been effected in more than 3000 cases. Approximately ₹ 393 Crore including ₹ 316 .....

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..... Crore cash and ₹ 77 Crore worth of jewellery has been seized. Of the cash seizure, about ₹ 80 Crore is in new currency. As a result of these investigations, approximately ₹ 2600 Cror .....

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..... e of undisclosed income has been admitted by the taxpayers. The success of the Department in unearthing undisclosed incomes and detecting large scale malpractices is due to its focused enforcement ac .....

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..... tions based upon high quality data analytics under various categories thereby identifying and prioritizing high risk persons/groups. This, coupled with the professional manner of conducting the invest .....

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..... igations in a swift and confidential manner, has helped the Department make an impact in a short time.
News - Press release - PIB .....

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