Panama Papers: Undisclosed income under investigation now over Rs 1000 crore, says tax department

The amount of undisclosed income under investigation in India in the Panama Papers leak has crossed the Rs 1,000-crore mark, the income tax department has said. The Central Board of Direct Taxes gave the information in response to a Right to Information query filed by journalism student Saurav Das, The Indian Express reported on Friday.

In November, the Finance Ministry had put the figure at Rs 792 crore. Now, it is Rs 1,088 crore, the CBDT said in the response.

The investigation into the Paradise Papers leak is at a preliminary stage, the tax department said. Meanwhile, undisclosed credits under investigation after being revealed by the Offshore Leaks of 2013 are now at Rs 11,010 crore.

In April 2016, millions of documents were leaked from the database of Panama-based law firm Mossack Fonseca that revealed the hidden offshore wealth of some of the world’s top leaders and celebrities.

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