Actions taken by IT Department against Black Money

Last updated: 02 August 2018

The Income-tax Department (ITD) takes appropriate action against black money which is an on-going process. Such action under the Direct Tax laws includes searches, surveys, inquiries, assessment of income, levy of penalties and filing of prosecution complaints before criminal courts, wherever applicable. Moreover, recognizing the limitations of the Income-tax Act, 1961 etc. in dealing with black money stashed abroad, the Government of India enacted a comprehensive and a more stringent new law
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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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