Tax demand worth Rs. 13,566 crore raised during FY19-22

The income tax department has raised tax demand worth Rs 13,566 crore and passed349 assessment orders during the four financial years (FY19-FY22) under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, the government informed Parliament.

Government data also showed that 686 searches were conducted during 2021-22, while assets worth Rs 1,159.59 crore were seized by the income tax department. A total of 5,931 groups have been searched during the last eight financial years since 2014-15, with seizure of assets worth Rs 8,832.92 crore.

In a written response to a question in Lok Sabha, Minister of State for Finance Pankaj Chaudhary said 183 assessment orders were passed in 2021-22 and a demand of Rs 5,350 crore was raised under the black money law.