Post demonetisation I-T dept detects Rs 4,663 crore of undisclosed income

Over Rs 4,663 crore of un-disclosed income has been detected while new notes worth Rs 110 crore have been seized by the Income Tax department as part of its country-wide operations against black money hoarders till January 1.

Official sources said the tax man took 1110 actions which included 556 surveys, 253 searches & 289 cases of seizures. The department has also issued 5062 notices for verifications.

The agency has also referred a total of 500 cases to other agencies like the CBI and the Enforcement Directorate (ED) to probe other financial crimes like money laundering, disproportionate assets and corruption as part of their legal mandate.