New Delhi: The government on Monday told parliament that the Income Tax Department had submitted more than 10,000 cases with 107 related to black money stored abroad.
Responding to questions at Lok Sabha, the Junior Minister for Finance Pankaj Choudhury said that until the end of May, in cases of Panama Papers, Kredit Rs 20,078 Crore who was kept secret had been detected, with the Crore RS 246 detected in the cases of Paradise Papers.
In some older cases, the minister indicates, there is greater progress.
Until May-end, the assessment order had been forwarded in 166 cases under the Black Money Law with requests submitted by the Income Tax Department that added up to RS 8,216 Crore.
Likewise, RS revenues that are not disclosed.
8,465 Crore has been brought for tax and penalty RS 1,294 crores has been collected in the case of HSBC, the Minister said.
Furthermore, the income that was not disclosed by RS 11,010 Crore was detected in an international consortium in the case of investigative journalists.
The tax department has taken these cases after newspapers and whistle blowers blew the lid of the cases of money stored abroad by Indians, many of which have not revealed them in return.
Separately, the minister said that there was no estimation of black money in the Swiss bank account.
I-T has submitted 107 cases in black money stored abroad: Government
