The Income Tax Department has unearthed undisclosed income worth Rs 30,444 crore in the ongoing fiscal year 2024-25, following 465 surveys conducted across the country, the Rajya Sabha was informed on Tuesday.
Minister of State for Finance Pankaj Chaudhary, in a written reply, stated that the department acts promptly on credible information of direct tax evasion by launching suitable actions such as surveys, search and seizure operations, and assessments to bring such income under the tax net.
A comparative analysis reveals that the number of surveys has reduced over the years, but the value of unreported income detected remains substantial. In FY24, the department carried out 737 surveys, resulting in the detection of Rs 37,622 crore in unreported income. In FY23, 1,245 surveys led to the discovery of Rs 9,805 crore in undisclosed income.
The government also intensified its search and seizure operations. In FY25 so far, 1,437 groups were searched, with assets worth Rs 2,504 crore seized. This is closely aligned with FY24, which saw 1,166 group searches and a total seizure of Rs 2,555 crore in assets. In FY23, Rs 1,766 crore in assets were seized from an equal number of groups searched - 1,437.
These actions form part of the broader effort by the Income Tax Department to improve tax compliance, increase transparency, and curb the shadow economy. The surge in high-value detections, despite a dip in the number of surveys, also points to better targeting and intelligence-based enforcement by the tax authorities.
The Finance Ministry reiterated its commitment to continue adopting data-driven and technology-enabled strategies to detect and deter tax evasion while ensuring taxpayer services are not compromised.
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