Rs 4,313 cr black income detected in 1,061 raids

Over Rs 4,313 crore of stashed income has been detected by the Income Tax department after conducting over 1,000 raids and survey operations as part of its country-wide operations against black money hoarders post demonetisation.

Official sources said the taxman has detected a total of Rs 4,313.79 crore undisclosed income and seized cash and jewellery worth Rs 554.6 crore as part of these operations, as per the data updated till yesterday.

They said the department carried out a total of 1,061 raids, surveys and enquiries across the country to detect suspected tax evasion instances since the note ban was declared on November 8.