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No official estimate of undisclosed wealth abroad

Thakur said as part of the government’s drive against black money, undisclosed income of about Rs 8,465 crore has been brought to tax and penalty of Rs 1,294 crore levied in the HSBC cases.

ET Bureau|
Dec 03, 2019, 07.15 AM IST
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NEW DELHI: There is no official estimate of the undisclosed wealth held by Indians abroad, minister of state for finance Anurag Thakur told the Lok Sabha on Monday.

Thakur said as part of the government’s drive against black money, undisclosed income of about Rs 8,465 crore has been brought to tax and penalty of Rs 1,294 crore levied in the HSBC cases.

Undisclosed income of about Rs 11,010 crore has been detected in ICIJ cases, he said, adding that in the Panama Papers leaks case undisclosed foreign investments of Rs 1,565 crore have been detected.

In the Paradise Papers leaks case, undisclosed foreign investments of Rs 209 crore have been detected, the minister said.
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