Over Rs 4,807 crore of undisclosed income has been detected while new notes worth Rs 112 crore have been seized by the Income Tax department as part of its country-wide operations against black money hoarders post demonetisation.

Official sources said the taxman carried out a total of 1,138 search, survey and enquiry operations under the provisions of the Income Tax Act since the note ban was declared on November 8 last year, even as the department has issued 5,184 notices to various entities on charges of tax evasion and hawala-like dealings.

The department, they said, has seized cash and jewellery worth over Rs 609.39 crore during the same period even as the new currency seized (majorly Rs 2,000 notes) is valued at about Rs 112.8 crore.

The value of the seized jewellery in this is Rs 97.8 crore.

"The total undisclosed income admitted or detected as part of this action, till January 5, is Rs 4,807.45 crore," they said.

The agency has also referred a total of 526 cases to its sister agencies like the Central Bureau of Investigation and the Enforcement Directorate to probe other financial crimes like money laundering, disproportionate assets and corruption as part of their legal mandate. -- PTI

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