Rs 300 cr black money unearthed in Apr-Oct: FM

The Income Tax Department seized Rs 300 crore in black money, including cash and jewellery, during April-October, 2011-12, Parliament was informed on Tuesday.

The I-T Department has issued 2,190 warrants and seized assets worth Rs 299.63 crore, Finance Minister Pranab Mukherjee said in the Rajya Sabha.

Of the total amount seized, Rs 179.59 crore was in cash, Rs 95.67 crore was jewellery and Rs 24.36 crore was in the form of other assets, he said.

During the 2010-11 fiscal, the I-T Department has seized assets worth Rs 774.98 crore by executing 4,852 warrants, Mukherjee said.

In a separate reply to the Rajya Sabha, Minister of State for Finance S S Palanimanickam said the I-T Department does not doubt the authenticity of information provided by the French government on Indians with bank accounts in Switzerland, but was verifying the data.