Black money crackdown: Undisclosed assets worth Rs 6,000 cr detected
"As an outcome of the actions taken by the Income-tax Department under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' (The Black Money Act), as on October 31, 2018, undisclosed foreign assets and income valued at over Rs 6,000 crore have been detected," Minister of State for Finance Shiv Pratap Shukla said in a written reply in the Rajya Sabha.
Under the Act, a one-time compliance opportunity for a limited period was provided to those persons who have any foreign assets which have hitherto not been disclosed for the purposes of Income-tax. PTI