More than 107 prosecution complaints have been filed under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, Minister of State for Finance Pankaj Chaudhary said in a written reply to a question in Lok Sabha.
As on May 31, assessment orders were passed in 166 cases, wherein a demand of ₹8,216 crore has been raised. Besides, undisclosed income of about ₹8,465 crore has been brought to tax and a penalty of ₹1,294 crore levied in HSBC cases. In the Panama and Paradise Papers cases, undisclosed credits of ₹20,078 crore and ₹246 crore, respectively, have been detected.
