I-T dept seized assets worth over Rs 4,800 cr in last 4 fiscals: Govt

New Delhi:

Assets worth more than Rs 4,800 crore were seized during searches conducted by the Income Tax department against 2,841 groups in the last four financial years, the government informed Lok Sabha on Monday.

Minister of State for Finance Pankaj Chaudhary said these searches are undertaken to find “suspected or identified large-scale tax evasion”.

Sharing the data for financial years 2019-20, 2020-22, 2021-22 and 2022-23 (provisional figures till January 2023), Chaudhary said a total of 2,841 groups were searched by the I-T department leading to seizure of assets worth Rs 4,863.12 crore.