Live
- DEO suspends teacher accused of sexual assault
- PM ‘cursing’ Congress out of despair: Maharashtra Cong Chief
- Applications are invited for Junior Colleges Scheme District Scheduled Castes Development Officer Ramlal
- A nomination was filed on the second day for the Nagar Kurnool parliamentary seat
- SP Gaikwad inspected the Telangana Amarnath Saleswaram Jatara yatra arrangements
- Rahul Gandhi's decision to contest from Wayanad shows 'lack of confidence': BJP President Nadda
- IPL 2024: Delhi bowlers will go after all of SRH’s top-order batters, says head coach Ricky Ponting
- At Amroha rally, PM Modi sends out ‘meaningful’ message for Muslims and Hindus
- Tripura records highest 79.83 pc voter turnout in Northeast
- The government has to clear the confusion
Income Tax searches yielded Rs 49,247 crore: Minister
Income Tax Department searches resulted in unearthing undisclosed income and assets worth Rs 49,247 crore in the last four years, Parliament was informed on Friday.
New Delhi: Income Tax Department searches resulted in unearthing undisclosed income and assets worth Rs 49,247 crore in the last four years, Parliament was informed on Friday.
The department searched 2,534 groups of persons from 2013-14 to 2015-16 and until January 2017, which led to admission of undisclosed income of about Rs 45,622 crore apart from seizure of undisclosed assets (cash, jewellery) worth about Rs 3,625 crore, Minister of State for Finance Santosh Kumar Gangwar said in the Lok Sabha.
Besides levy of taxes on the total income of those persons whose assessments were completed in the last three years and up to January 2017, the Department filed prosecution complaints in 2,432 cases, he said.
"During the same period, 4,264 compounding applications were also received from persons who had committed offences under the Income Tax Act. Out of the cases disposed of by the criminal courts during this period, 116 persons were convicted," he added.
The government had taken various measures to tackle breach of law and tax evasion including enforcement action and putting in place legislative and administrative frameworks and processes, Gangwar said.
