Daijiworld Media Network - New Delhi

New Delhi, Aug 5: The Income Tax Department has uncovered a staggering Rs 77,871.44 crore in undisclosed income over the last three financial years through extensive tax evasion surveys, Parliament was informed on Tuesday.

Minister of State for Finance Pankaj Chaudhary, in a written reply in the Rajya Sabha, revealed that the department conducted:

• 1,245 surveys in FY 2022–23, detecting Rs 9,805.04 crore
• 737 surveys in FY 2023–24, uncovering Rs 37,622.23 crore
• 465 surveys in FY 2024–25, revealing Rs 30,444.17 crore

In addition to surveys, the department carried out search and seizure operations on 3,344 groups, leading to the confiscation of assets worth Rs 6,824.34 crore.

“Whenever credible information of direct tax evasion is received, appropriate actions such as surveys, searches, assessments, and seizures are undertaken,” the minister said.

Foreign Assets & Black Money Act Impact

Since the introduction of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, significant progress has been made in tracking offshore tax evasion:

• 684 disclosures were made during a special compliance window in 2015, involving undisclosed foreign assets worth Rs4,164 crore, yielding Rs 2,476 crore in taxes and penalties.

• Up to March 31, 2025, 1,021 assessments under the Act have led to tax and penalty demands exceeding Rs 35,105 crore, with 163 prosecution complaints filed.

Enforcement Actions

As per the government:
• The Enforcement Directorate (ED), acting under the PMLA, has seized assets worth Rs 89.78 crore in 17 cases, and filed 10 prosecution complaints.
• Additionally, under FEMA Section 37A, the ED has confiscated Rs 285.39 crore in 12 cases tied to black money violations.

The disclosures underscore the government’s sustained efforts to combat both domestic and international tax evasion, particularly as it steps up use of data analytics, inter-agency coordination, and legal mechanisms to crack down on unaccounted wealth.