Government has detected undisclosed income of nearly 44 thousand crore rupees from domestic and foreign sources in the last two financial years. Minister of State for Finance Santosh Gangwar informed this in a written reply in Rajya Sabha today. Mr Gangwar said the Black Money Act enacted last year provided a one-time compliance window for declaration of undisclosed foreign assets. The window was open from July to September last year. The Minister said an amount of 2,476 crore rupees was received as tax and penalty from 648 declarants under the window.

Government has detected undisclosed income of nearly 44 thousand crore rupees from domestic and foreign sources in the last two financial years. Minister of State for Finance Santosh Gangwar informed this in a written reply in Rajya Sabha today. <br/><br/>Mr Gangwar said the Black Money Act enacted last year provided a one-time compliance window for declaration of undisclosed foreign assets. The window was open from July to September last year. The Minister said an amount of 2,476 crore rupees was received as tax and penalty from 648 declarants under the window.