No estimation of black money either before or after Nov 8: Arun Jaitley

The searches conducted by IT Department between April 2014-Nov 2016 on 1,356 groups of assessees led to admission of undisclosed income of Rs 31,277 crore apart from seizure of undisclosed assets worth Rs 2,164 crore, said Jaitley.

By: PTI | New Delhi | Published:December 16, 2016 5:20 pm
Black money, Demonetisation, Black money news, Arun Jaitley, Jaitley black money, Arun Jaitley blackmoney Finance Minister Arun Jaitley. (File Photo)

There is no official estimation of black money either before or after November 8 – the day government announced scrapping of old Rs 500 and Rs 1,000 notes, Finance Minister Arun Jaitley said on Friday. “There is no official estimation of the amount of black money either before or after the government’s decision of November 8, 2016 declaring that bank notes of denominations of the existing series of the value of Rs 500 and Rs 1000 shall cease to be legal tender with effect from November 9,” he said in a written reply in Lok Sabha.

The searches conducted by Income Tax Department between April 2014 and November 2016 on 1,356 groups of assessees led to admission of undisclosed income of Rs 31,277 crore apart from seizure of undisclosed assets worth Rs 2,164 crore, he added. Besides, 14,044 surveys conducted during the period, resulted in detection of undisclosed income of Rs 30,492 crore.

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Replying to another question on whether the government has received any proposal from the employees of LIC to provide another opportunity to those who have not chosen pension option earlier, Jaitley replied in affirmative. “The proposal was examined and a view has been taken that no more options for pension may be extended to employees of public sector insurance companies,” he said.

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  1. R
    Raj
    Dec 16, 2016 at 3:08 pm
    Mundane govt narrative repeated by bhakts who get paid for commenting. Cash or cashless?
    Reply
    1. J
      Jeevan
      Dec 16, 2016 at 5:50 pm
      Really!!!!! The w excercise of seraching for the black money is going to be like george bush search for wmd
      Reply
      1. A
        Ashok
        Dec 16, 2016 at 3:32 pm
        Sir when willpolitical party start accepting donations cheques only
        Reply
      2. M
        Mathura
        Dec 16, 2016 at 5:12 pm
        Without a yardstick Government says black money is out. Gambling with common / poor man's intelligence
        Reply
        1. A
          ams
          Dec 16, 2016 at 8:56 pm
          Abe chu $$$ iye.. if there is no baseline for how much black money was there before Nov 8.. how the fkc will you measure success of so-called demonetization????
          Reply
          1. A
            ams
            Dec 16, 2016 at 10:14 pm
            you a $$ election loser by 1 lakh Jaitley is supposed to act based on offical facts and figures.. if there is no official estimate for black money, how can they go about demonetization????? Keep your horseshi$$ to yourself or give it to other Modi bhakts, OKAY?
            Reply
            1. O
              Observer
              Dec 16, 2016 at 12:42 pm
              No erstimate, and still did demonetisation of 86% of the currency? For what? To help Reliance Jio ??
              Reply
              1. J
                Jai hind
                Dec 16, 2016 at 1:30 pm
                By hahahaha ...agar aisa ta ..tjoh Demonetisation April 1st ko declare karna tha....
                Reply
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