The Centre informed the Supreme Court that around Rs 71,941 crore of undisclosed income has been detected in the last three years after Income Tax (IT) department carried out searches, seizures and surveys.
The Finance Ministry in an affidavit to the apex court has said that from the day after high currency notes were demonitised till January 10 this year, the total undisclosed income admitted was more than Rs 5,400 crore. It said, “The total undisclosed income admitted was more than Rs 5,400 crore and and the total quantity of gold seized stood at 303.367 kgs.” It also included the details of the unaccounted income for three years from April 1, 2014 to February 28 this year, including the demonetisation period.
According to the affidavit, searches were undertaken by IT department in over 2,027 groups “which led to the admission of undisclosed income of more than Rs 36,051 crore”. It said, “This is in addition to the seizure of undisclosed assets worth Rs 2,890 crore.” The II department also concluded more than 15,000 surveys between April 1, 2014 to February 28 this year, which led to “the detection of undisclosed income of more than Rs 33,000 crore”.

The Centre informed the Supreme Court that around Rs 71,941 crore of undisclosed income has been detected in the last three years after Income Tax (IT) department carried out searches, seizures and surveys.
The Finance Ministry in an affidavit to the apex court has said that from the day after high currency notes were demonitised till January 10 this year, the total undisclosed income admitted was more than Rs 5,400 crore. It said, “The total undisclosed income admitted was more than Rs 5,400 crore and and the total quantity of gold seized stood at 303.367 kgs.” It also included the details of the unaccounted income for three years from April 1, 2014 to February 28 this year, including the demonetisation period.
According to the affidavit, searches were undertaken by IT department in over 2,027 groups “which led to the admission of undisclosed income of more than Rs 36,051 crore”. It said, “This is in addition to the seizure of undisclosed assets worth Rs 2,890 crore.” The II department also concluded more than 15,000 surveys between April 1, 2014 to February 28 this year, which led to “the detection of undisclosed income of more than Rs 33,000 crore”.