Finance Minister Arun Jaitley briefed Lok Sabha about tax raids conducted and black money recovered
The Income Tax department, Enforcement Directorate and other government agencies have seized Rs 141.13 crore worth of new currency notes of Rs 2,000 and Rs 500 while acting in different parts of the country, Lok Sabha was informed today.
Of this amount, Rs 110 crore was seized by the IT Department, Rs 4.54 crore seized by ED, Rs 26.21 crore by the CBI and Rs 38 lakh by the DRI, Union Finance Minister Arun Jaitley said during Question Hour.
"All new Indian currency notes of Rs 2,000 and Rs 500 denominations seized by the ED are deposited in SBI or any nationalised banks so that they come back in circulation," he said.
Mr Jaitely said all government agencies including ED, CBI, IT Department and Department of Revenue Intelligence have pan-India presence with requisite officials posted in headquarters, various zonal and regional units to conduct actions against black money hoarders.