-
Apr 29, 2025
-
CBDT Ramps Up Crackdown On Black Money, Sets New Targets For Income Tax Department To Boost Collections
The CBDT instructed every jurisdiction within the I-T Dept to carry out at least 1 major search and seizure operation by July 31, and 2 more between August and March 2026, the report said.
In a major move to combat black money and tax evasion, the Central Board of Direct Taxes (CBDT) has reportedly instructed the Income Tax Department's field formations to implement an aggressive, time-bound strategy aimed at expanding the tax net.
According to a media report, the CBDT anticipates uncovering undisclosed income worth an estimated Rs 2.4 lakh crore during the current financial year, stated IANS.
Under the new directive, every jurisdiction within the Income Tax Department must carry out at least one major search and seizure operation by July 31. Additionally, between August and March 2026, each jurisdiction is expected to conduct two more significant operations, reported NDTV Profit.
|