Income Tax Department Finds Out Undisclosed Income Of Rs.235 Crore

Uttar Pradesh, India (PressExposure) July 02, 2009 -- In the state of Madhya Pradesh and Chhattisgarh, undisclosed income of Rs.235 crore has been discovered by the Income Tax department of India for the fiscal 2008-09.

Brajesh Gupta, the Director General of Investigations for the state of Madhya Pradesh and Chhattisgarh has come up with a statement saying that the Income Tax department has conducted 29 raids and 104 surveys during the fiscal, in order to detect the undisclosed income.

Mr. Gupta added that the undisclosed income of Rs.234.76 crore that includes the cash and jewellery of Rs.14.20 crore in the form of black money came in light following the process of raids and surveys.

He also said that the undisclosed income in the two states during the FY'09 has increased by 152% if compared to the figures in the previous fiscal.

He further said that the this concealed income of Rs.29.53 crore has been discovered from the Bhopal area and Rs.38.11 crore from Raipur region.

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Press Release Submitted On: July 02, 2009 at 4:08 am
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