The Income Tax Department has received more than 30,000 pieces of information from various countries on stashed black money under the Double Taxation Avoidance Agreement, DTAA. The Financial Intelligence Unit (FIU), under the Finance Ministry has gathered voluminous data on suspicious transactions, the department informed a global Organisation for Economic Cooperation and Development, OECD conference held in New Delhi recently.
Official sources say more than 430 crore rupees of unaccounted funds have also been received by the I-T department. Investigation wing of Central Board of Direct Taxes has detected concealed income of 18,750 crore rupees in last two financial years and focused searches have been conducted in a number of cases in the current year on the basis of information received from foreign jurisdictions under the provisions of DTAA.
Why govt. is heasitating to disclose the namesof defaulters even though it has already obtained such detailed information? Anyone can imagine that the names of some 'heavy-weight' persons are involved therein.
