The Income Tax Department has unearthed undisclosed income worth 43,000 crore rupees in the last two fiscals. Union Revenue Secretary Hasmukh Adhia told reporters in Mumbai that 21,000 crore rupees were found from the Department's searches, and the balance of 22,000 crore rupees were unearthed from various surveys. He did not specify whether the money belonged to individuals or corporates. <br/><br/>Mr Adhia said that the Department is currently busy calculating the tax to be imposed on this undisclosed amount. Talking about the penalty to be imposed on the 13,000 crore rupees of black money discovered in foreign accounts of Indians so far, the Revenue Secretary said this money will be taxed at the rate of 120 per cent. <br/><br/>To a question, Mr Adhia said there are close to 5 crore forty lakhs taxpayers, of which 1.5 lakh have annual income of over 50 lakh rupees. As many as one crore eighty lakhs are TDS taxpayers.