The Indian government has uncovered a total of ₹77,871.44 crore in undisclosed income over the past three financial years, according to information presented in the Rajya Sabha on Tuesday. The data was shared by Minister of State for Finance, Pankaj Chaudhary, in response to a written query.
During FY 2022&ndash;23, the Income Tax Department conducted 1,245 surveys, identifying ₹9,805.04 crore in unreported income. This figure rose sharply in FY 2023&ndash;24, with ₹37,622.23 crore detected through 737 surveys. In the current fiscal year, up to now, ₹30,444.17 crore has been uncovered via 465 surveys.
Additionally, search and seizure operations were carried out on 3,344 groups during this period, resulting in the confiscation of assets worth ₹6,824.34 crore.
The minister noted that the Income Tax Department initiates action, including surveys, searches, assessments, and seizures, whenever credible information of direct tax evasion comes to light.
Referring to the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, he said that during the three-month compliance window (July to September 2015), 684 disclosures of undisclosed foreign assets amounting to ₹4,164 crore were made. Tax and penalties collected under this compliance window totaled approximately ₹2,476 crore.
Up to March 31, 2025, the department has completed 1,021 assessments under the Black Money Act, raising tax and penalty demands exceeding ₹35,105 crore. So far, 163 prosecution complaints have been filed.
Further action under the Prevention of Money Laundering Act (PMLA), 2002, included the attachment or seizure of proceeds of crime worth ₹89.78 crore in 17 cases. Ten prosecution complaints have been filed under the PMLA, including four supplementary ones.
Under Section 37A of the Foreign Exchange Management Act (FEMA), the Enforcement Directorate has seized assets worth ₹285.39 crore in 12 cases involving violations of the Black Money Act. [Except for the headline, this article has not been edited by the Benefit News editorial team and is published directly from the IANS news feed]

₹77,871 Cr Black Money Detected in 3 Years: Govt

Income Tax surveys uncover ₹77,871 Cr; ₹6,824 Cr in assets seized over 3 fiscal years

₹77,871 Cr Black Money Detected in 3 Years: Govt

Income Tax surveys uncover ₹77,871 Cr; ₹6,824 Cr in assets seized over 3 fiscal years

August 6, 2025 | 01:44 IST