Compared to 2013- 14, Blackmoney Graph Increase To Over Rs 1 Lakh Cr

In order to get the details of tax evasion among the individual businessman, firms, financial intuitions, today the I-T department conducted an action.

Shockingly, during this checking session, over one lakh crore black income was detected by the government. However this undisclosed money belongs to the last financial year
While, the sources claim that as compared to the search and seizure action undertaken by the Income Tax department during 2012-13 to check black money, the current figure is almost more than double.
Going by the figures given by the officials of I-T department, the department was able to detect an income worth Rs. 10,791.63 crore.

Although all this undisclosed money was found in search operations during the just conclusion of 2013-14 fiscal.

On the other hand, the officials also found that the survey findings conducted during the same period across the country also helped them to detect an unreported income of Rs. 90,390.71 crore.

While, at the end of both these operations, searches (where I-T sleuths raid both business and residential premises of an entity) and surveys (where department officials raid only business premises) the total figures recorded was Rs. 1,01,181 crore.

The matching increasing figures for the 2012-13 fiscal (under both the heads) was Rs 29,628 crore, a figure less than half of the current recorded amount.
Talking about the last fiscal (2013—14), along with the cash of worth Rs 807.84 crore, assets like jewellery, fixed deposits were also seized by I-T.

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