Undisclosed Income

Govt to SC: IT dept has detected undisclosed income worth Rs 71,941 crores over past three years

Massive searches, seizures and surveys by the IT department over the last three years have led to the detection of around Rs 71,941 crore of "undisclosed income"..

Demonetisation impact: Rs. 5,400 cr of undisclosed income detected, says Arun Jaitley

The IT Department had undertaken “Operation Clean Money” to leverage technology and data analytics for verification of deposits during the demonetisation period.

Income tax department uncovers Rs 45,622 cr undisclosed income

During the FY14, FY15, FY16 and FY17 (up to January 2017), the I-T dept conducted searches on about 2,534 groups of persons, which led to admission of undisclosed income of about Rs 45,622 crore apart from seizure of undisclosed asset (cash, jewellery etc) worth about Rs 3,625 crore

I-T Department warns black money hoarders of action, to be fined over 77% if caught

After the 8 November demonetisation of Rs 500 and Rs 1,000 notes, the central government unveiled the PMGKY amnesty scheme from 16 December, 2016 to 31 March, 2017 for declaring unaccounted wealth (black money) and avoiding prosecution by paying a fine of 50 percent on the undisclosed income.

Demonetisation: Govt mulls 50% tax on unaccounted deposits and 85% for non declaration

Those who choose to declare their ill-gotten wealth stashed till now in banned Rs 500 and Rs 1,000 notes under the Pradhan Mantri Garib Kalyan Yojana 2016, will have to pay a tax at the rate of 30 percent of the undisclosed income

Undisclosed income now at over Rs 71,000 crore under IDS, says ICAI

The number of assesses who disclosed their assets under the scheme is more than 64,000, says ICAI

Black money window may have mopped up Rs 50,000 crore, announcement later today

Top sources in the Finance Ministry said the scheme has turned out to be "very successful" and the results are expected to beat expectations and stipulated targets set in this regard.

I-T dept detects undisclosed income of Rs 90,000-cr

Undisclosed income to the tune of Rs 90,000 crore was detected during 2013-14 in various searches and surveys conducted by the Income Tax department, a top official from the Central Board of Direct Taxes (CBDT) said here today.