Tax dept issues 10,000 reopening notices to various entities so far

Initial data suggest undisclosed income to the tune of Rs 15,000 cr

The Income Tax Department has issued 10,000 reopening notices to companies and individuals in major cities, seeking explanations for apparent discrepancies in their reported incomes. The notices relate to the 2018-19 assessment year and such cases cannot be reopened after August 31.

Preliminary estimates suggest that the suspected undisclosed income in these cases could reach as much as Rs 15,000 crore. The entities involved span India’s top cities -- Delhi, Mumbai, Bengaluru, Pune, Chennai, and Hyderabad.
 

Most of these cases involve suspected bogus charitable donations made under Section 80G of the Income Tax Act, as well as high-value