IT Deptt. Shifts focus to prosecute offenders to curb tax evasion

12 Feb, New Delhi

The Union Government has shifted the focus to prosecute income tax offenders in shortest possible time with a view to have credible deterrence against generation of black money.

Income Tax Department has conducted searches in 414 groups and seized undisclosed assets of 582 crore rupees in the first nine months of the current fiscal.

According to an official release, undisclosed income of 6,769 crore rupees has also been admitted by the tax payers during such searches. During the current year, 628 prosecution complaints have been filed upto December last year, out of which 56 of such prosecution complaints relate to offences concerning undisclosed foreign income.