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I-T department seizes Rs 992.5-crore assets in FY18

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The income tax department seized assets worth Rs 992.52 crore during 2017-18, while 582 search and seizure operations were conducted during the financial year, Parliament was informed on Friday.

I-T department seizes Rs 992.5-crore assets in FY18
The income tax department seized assets worth Rs 992.52 crore during 2017-18, while 582 search and seizure operations were conducted during the financial year, Parliament was informed on Friday.
In a written reply in the Lok Sabha, Minister of State for Finance Shiv Pratap Shukla said the income tax department seizes unaccounted/undisclosed/ unexplained assets during the search and seizure operations.
The value of assets seized during the past two financial year is Rs 1,469.62 crore in 2016-17 and Rs 992.52 crore in 2017-18, Shukla said.
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