CBDT: Rs 90,000 Cr of undisclosed income detected in 2013-14
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Undisclosed income of Rs 90,000 crore was detected during 2013-14, according to KV Chowdary, Chairman, Central Board of Direct Taxes.
Addressing a press conference here on Friday, the official said the IT department had conducted surveys in 5,327 cases.
The main sectors in which undisclosed income was detected were power, mobile phone trading, real estate, iron and steel and chemicals, Chowdary said.
Search operations were conducted in 569 groups, which resulted in seizure of assets worth Rs 808 crore and admission of unaccounted income of Rs 19,792 crore, he said.
The national budget for collections during the current financial year was pegged at Rs 7,36,000 crore which was higher than last year's collection by 15 per cent. (The Hindu)
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