New Delhi: A whooping amount of black money worth Rs 30,000 crore in the country has been unearthed in past two years, said the Central Board of Direct Taxes (CBDT) which is set to get investigative powers to boost its drive against wrong-doers.

The CBDT is in the process of creating a Directorate of Criminal Investigation after getting approval from Finance Minister Pranab Mukherjee last week.

CBDT Chairman Sudhir Chandra said they have gone after big shots and every search or survey has yielded more than Rs 100 crore in black money.

Addressing ‘National Seminar on Black Money’, Chandra said, “Through IT searches and surveys, we have realized around Rs 30,000 crore of black money” in the past two years. That shows we have not gone after small people and we have gone after big people.”

He said his officers did not move out of office unless they got clinching and conclusive information.
Noting that they used to get a lot of complaints, mainly due to personal vendetta, he said the CBDT was profiling High Networth Individuals. "Everyone is on our radar," he said.

He said since February, the Income Tax Department has issued 1.15 crore refunds across the country which runs into Rs 1.04 lakh crore.

"The income tax refund is your money. In terms of money, it is Rs 74,000 crore upto March and another Rs 30,000 crore in April and upto May 15," Chandra said.

He also said the income tax collection has gone up by three times in the first 45 days of this fiscal compared to the same period last fiscal and Income Tax investigation department is being strengthened.

Revealing about his plans, he said, “We are also setting up a new dedicated and computerised exchange of information cell. Whatever information we want from countries, they can send it our cell, will coordinate with identical cells of foreign countries.”

On the Liechtenstein accounts, he said the information what India got from them cannot even be shared with the Enforcement Directorate.

(Agencies)