Department also seized Rs 86 crore worth new notes as part of its countrywide operations against black money
The department has detected crores worth of new notes, mostly in Rs 2,000. Representation pic
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New Delhi: Over Rs 3,185 crore of undisclosed 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. “The total undisclosed income admitted or detected as part of this action, till December 19, is more than Rs 3,185 crore,” they said.
Referred cases
The agency has also referred over 220 cases to its sister 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. Officials said various tax offices in the country and it’s policy-making body Central Board of Direct Taxes (CBDT) are also coordinating with banks and their regulator RBI as part of these investigations, being carried out to check tax evasion and illegal profiteering leading to black money.
Deposit seized currency
Meanwhile, the headquarters of these probe agencies have issued orders to all their field formations to deposit the new currency, being seized by their officials in operations, in bank accounts rather than keeping it in strong rooms. “This way the new currency can come into circulation and help banks dispense it to the public,” they said.
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