Black money haul: Over ₹30,000 cr undisclosed income traced by I-T in FY25

The Income Tax (I-T) Department has detected ₹30,444 crore in undisclosed income during the 2024–25 financial year through 465 survey operations, Minister of State for Finance Pankaj Chaudhary informed the Rajya Sabha on Tuesday.

 

In a written reply, the minister said that the I-T Department initiates surveys, search and seizure actions, and assessments when it receives credible information of direct tax evasion. These enforcement actions are part of the government's ongoing efforts to tackle tax non-compliance and black money.

 

“Whenever credible information of direct tax evasion comes to notice, suitable action is taken, including surveys, search and seizure operations and assessments to bring the undisclosed income to tax,” Chaudhary said.

 

 

FY25 Key Figures

Surveys conducted: 465

 

Undisclosed income detected: ₹30,444 crore

 

Groups searched: 1,437

 

Assets seized: ₹2,504 crore

 

Comparison with Previous Years

The data reveals a drop in the number of surveys conducted in FY25 compared to the previous two years but shows continued strong detection of black money:

 

FY24

Surveys: 737

 

Undisclosed income detected: ₹37,622 crore

 

Groups searched: 1,166

 

Assets seized: ₹2,555 crore

 

FY23

Surveys: 1,245

 

Undisclosed income detected: ₹9,805 crore

 

Groups searched: 1,437

 

Assets seized: ₹1,766 crore

 

While the number of survey operations has declined over the three-year period, the average amount of undisclosed income detected per survey has increased significantly, suggesting a more targeted and intelligence-driven approach by the I-T department.