Govt detects undisclosed income of Rs 20,078 crore in Panama Leak

Besides the Panama Leak, the government also detected undisclosed credits of about Rs 246 crore in Paradise Papers Leaks and Rs 11,010 crore in ICIJ cases

The government has filed 107 prosecution complaints — or chargesheets — under the new Black Money Act and detected undisclosed income of approximately Rs 20,078 crore in the Panama Papers Leak case, the government informed Parliament on Monday.

While giving details of the government’s actions in different cases under the Black Money Act, 2015, Pankaj Chaudhary, minister of state for finance, said there was no official estimate of the black money stashed in the Swiss Bank for the past 10 years.

Till May 31, the government passed 166 assessment orders under The Black Money (Undisclosed Foreign Income and Assets) and Imposition of