Undisclosed income of Rs 43,829 crore, both from domestic and foreign sources, has been detected by government in the last two financial years, Parliament was informed on Tuesday.
“The amount received under the one-time compliance window, as part of enforcement measures during the last two financial years, searches in 990 groups of assessees and surveys in 9,457 cases were conducted, resulting in detection of undisclosed income of Rs 43,829 crore,” Minister of State for Finance Santosh Kumar Gangwar said in a written reply to Rajya Sabha.
He said the Black Money (Undisclosed Foreign Income and Assets) and imposition of Tax Act, 2015 enacted on May 26, 2015 provided a one-time compliance window for declaration of undisclosed foreign assets.