No Official Estimate Of Undisclosed Wealth Held By Indians Abroad: Government Tells Parliament

The government on Monday (2 December) said there is no official estimate of the undisclosed wealth held by Indians abroad.

This was stated by Union Minister of State for Finance Anurag Thakur in the Lok Sabha on Monday (2 December), in response to questions by MPs Kunwar Danish Ali and P P Chaudhary.

Thakur said as part of the government's drive against black money, undisclosed income of about Rs 8,465 crore has been brought to tax and penalty of Rs 1,294 crore levied in the HSBC cases.

Undisclosed income of about Rs 11,010 crore has been detected in ICIJ cases, he said, adding, that in the Panama Papers leaks case, undisclosed foreign investments of Rs 1,565 crore have been detected.

In the Paradise Papers leaks case, undisclosed foreign investments of Rs 209 crore have been detected, the minister said.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)