New Delhi: On the basis of the investigation and intelligence reports of the Income Tax Department, Finance Ministry will conduct a study on the "modus operandi of concealment" of black money by major business and public sectors and other channels in the country.

The report is taking the help of the Income Tax department as it conducts nation-wide searches and raids to unearth tax evasion and flow of black money.

According to a senior Finance Ministry official, the I-T orders and tax demand notices which were raised after such searches will form a part of this report which will have both public and restricted versions. These will be put in public and departmental domain respectively, the official said.

Three different studies have already been commissioned by the Ministry on unaccounted income generated inside and outside the country by leading economic think tanks of the country.

The official said that the new study report will be compiled in a month's time and is expected to be put in public domain by the first half of this year.

I-T department is a witness to an increasing number of new trends used by various entities to hide their income, generate black money and even launder this money to foreign locations.

Usage of high-end software peripherals and channelising of such funds through tax havens will feature prominently in the study report as the I-T department has encountered such techniques recently in a number of high-profile cases, he said.

The nature of trade and industry identified by the I-T department and other Law Enforcement Agencies in these cases will be compiled and put forth in the compilation, the official said.

A seven-member committee of senior I-T officials has already begun the work on the study report which will include the angles of intelligence generation and investigation of such cases from across the country in the compilation.

The other study on quantum of black money, to be conducted by three financial institutions, will come out with their results next year.

The study report is part of the government's overall strategy to combat black money in the country, the official said.

(Agencies)