New Delhi, Aug 5 A total of Rs 77,871.44 crore in undisclosed income was detected in three financial years (2022-23, 2023-24 and 2024-25) via tax evasion surveys from the Income Tax Department, the Parliament was informed on Tuesday.
For FY 2022-23, the Department conducted 1,245 surveys to detect Rs 9,805.04 crore worth of undisclosed income, which surged considerably to Rs 37,622.23 crore via 737 surveys, Minister of State for Finance, Pankaj Chaudhary, said in a written reply to a question in the Rajya Sabha.
In FY 2024-25, the amount of undisclosed income detected was Rs 30,444.17 crore via 465 surveys.
In the same period of three financial years, 3,344 groups were searched as part of search and seizure operations, resulting in Rs 6,824.34 crore worth of assets being seized, the minister added.
As far as the Income Tax Department is concerned, whenever any credible information of ‘direct tax’ evasion comes to its notice, it takes suitable actions, including surveys, search and seizure operations, assessments, to bring to tax the undisclosed income, he said.
Additionally, since the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, came into force on July 1, 2015, 684 disclosures involving undisclosed foreign assets worth Rs 4,164 crore were made in the one-time three-month compliance window, from July 1, 2015, to September 30, 2015.
"The amount collected by way of tax and penalty in such cases was about Rs 2476 crore. Further, till 31.03.2025, 1,021 assessments have been completed under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, raising tax and penalty demand of over Rs 35,105 crore approximately and 163 prosecution complaints have been filed," the minister said.
Moreover, Section 51 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 is one of the scheduled offences under Part C of the schedule to the PML Act, 2002.
In 17 such cases, the Enforcement Directorate has attached/seized proceeds of crime amounting to Rs 89.78 crore and filed 10 Prosecution Complaints, including 4 Supplementary Prosecution Complaints.
In addition, the ED has also seized assets amounting to Rs 285.39 crore under Section 37A of the FEMA in 12 cases involving violations related to the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, according to the minister.
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