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Nearly Rs 2,000 Crore Of Undisclosed Income Revealed Since Demonetisation, Says Finance Ministry
Swarajya Staff
Dec 06, 2016, 06:23 PM | Updated 06:23 PM IST
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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:
More than Rs. 130 crore in cash and jewellery seized by the IT Deptt & about Rs.2,000 crore of Undisclosed Income admitted by the taxpayers.
— Ministry of Finance (@FinMinIndia) December 6, 2016
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”.
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