I-T Dept detects ₹10,767 cr undisclosed income during FY18

The Income Tax Department has reportedly unearthed undisclosed income amounting to ₹10,767 crore in fiscal 2017-18, compared to ₹9,051 crore in 2016-17. The income was detected during the verification of cases of Non Pan Data, Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) data. The cases under FATCA increased over three times to 3,500 cases in 2017-18.