March 28, 2017 1:51 PM

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No estimation of black money either before or after Nov 8: Arun Jaitley

The government today said there is no official estimation of black money either before or after scrapping of 500 and 1000 currency notes on 8th of November last year. Finance Minister Arun Jaitley, in a reply in the Rajya Sabha said, the searches conducted by the Income Tax Department during 1st of April 2014 and 28th of February this year, in 2027 groups of assesses have led to admission of undisclosed income of 36,051 crore rupees. Seizure of undisclosed assets worth 2890 crore rupees was also made. <br/><br/>He said, 15,498 surveys conducted during the same period resulted in the detection of undisclosed income of 33,383 crore rupees. The minister said, the government has taken several steps, by both way of policy initiatives as well as through more effective enforcement action on the ground, to more effectively tackle the issue of black money.

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