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Only Rs 6 of every Rs 100 detected black money seized in tax raids

Govt has revealed that tax raids over the decades have recovered only a small part of the detected black money in the economy

Sai Manish  |  New Delhi 

To smoke out undisclosed income in the economy is the primary reason Prime Minister Narendra Modi has cited to buttress his government’s decision to demonetise Rs 500 and Rs 1,000 currency notes. But the Modi government, it turns out, hasn’t done any better than its predecessors when it comes to seizing undisclosed money after detecting it. Figures revealed by the government in Parliament during the winter session show, for every Rs 100 of undisclosed income detected, the taxman seized a paltry Rs 6 during 2015-16. The situation was hardly better in ...


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First Published: Tue, November 29 2016. 16:44 IST