In efforts to combat the problem of black money stashed abroad, Finance Minister Pranab Mukherjee has increased the fund allocation around nine times in his budget proposals for setting up eight new Income Tax overseas offices.
The proposed eight units will be in the United States of America, United Kingdom, the Netherlands, Cyprus, Germany, France, Japan and United Arab Emirates. While the initial budgetary allocation for these units was 2.41 crore rupees in the current fiscal, it has been raised to 18.20 crore rupees in the coming year.

These units will also help investors from abroad understand Indian tax laws and procedures so that they can make informed decisions. The units will be manned by a senior I-T officer adept in handling tax evasion cases and international tax treaties.

Two overseas units in Singapore and Mauritius are already operational since 2010.