How much black money has been recovered by Government?
| ➡️ Get instant news updates on Whatsapp. Click here to join our Whatsapp Group. |
The question of how much black money has been recovered by the Government often sparks public debate. Since the implementation of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, several disclosures, assessments, and recoveries have been made. The government has not only collected taxes and penalties through voluntary disclosures but has also conducted assessments, filed prosecutions, and carried out recoveries against undisclosed foreign assets. However, the actual recovery figures are much smaller compared to the tax demands raised, as many cases are still under litigation.
The Government of India has seized assets worth Rs.2503.73 in FY 2024-25. The data is as given below:
Search and Seizure Data
| Financial Year | Number of groups searched | Total assets seized (in ₹ Crores) |
|---|---|---|
| 2022-23 | 741 | 1765.56 |
| 2023-24 | 1166 | 2555.05 |
| 2024-25 | 1437 | 2503.73 |
Survey Data
| Financial Year | Total number of surveys | Undisclosed income detected (in ₹ Crores) |
|---|---|---|
| 2022-23 | 1245 | 9805.04 |
| 2023-24 | 737 | 37622.23 |
| 2024-25 | 465 | 30444.17 |
Since the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 came into effect on 1st July 2015, a total of 684 disclosures were made during the three-month compliance window (July–September 2015). These disclosures involved undisclosed foreign assets worth ₹4,164 crore, on which the government collected around ₹2,476 crore as tax and penalty.
Up to 31st March 2025, the Income Tax Department has completed 1,021 assessments under the Act, raising tax and penalty demands of nearly ₹35,105 crore. In addition, 163 prosecution complaints have been filed. However, the final crystallization of tax demand depends on the outcome of appeals filed before the CIT(A), ITAT, High Court, or Supreme Court.
Between 1st July 2015 and 31st March 2025, the government has managed to recover about ₹338 crore against the tax, penalty, and interest demand raised under this law.
Section 51 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 is one of the schedule offences under Part-C of the schedule to the PML Act, 2002. In 17 such cases, Enforcement Directorate has attached /seized proceeds of crime amounting to Rs.89.78 crore and filed 10 Prosecution Complaints including 04 Supplementary Prosecution Complaints. In addition, ED has also seized assets amounting to Rs.285.39 crores under section 37A of the FEMA in 12 cases involving violations related to the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.
