Nearly Rs 2,000 Crore Of Undisclosed Income Revealed Since Demonetisation, Says Finance Ministry

Taxpayers have admitted to an undisclosed income of around Rs 2,000 crore since the 8 November announcement of the demonetisation of old high denomination currency, claimed a Ministry of Finance press release.

In addition, over Rs 130 crore in cash and jewellery has been seized in multiple investigations by the Income Tax department.

The ministry tweeted the same:

Cases of serious irregularities are being referred to the Enforcement Directorate and the Central Bureau of Investigation, “enabling them to examine the criminal conduct for immediate necessary action”.

(Government press release)