April 28, 2025 12:49 PM

CBDT launches aggressive drive to curb black money, targets Rs. 2.4 lakh crore in undisclosed income

The Central Board of Direct Taxes (CBDT) has instructed field formations of the Income Tax Department to intensify efforts against black money and tax evasion through a comprehensive, time-bound strategy aimed at bringing unreported and under-reported businesses into the tax net. According to a media report, the CBDT estimates a potential recovery of undisclosed income amounting to a staggering Rs. 2.4 lakh crore during the current financial year. Each jurisdiction of the Income Tax Department...