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Black money worth Rs 19,000 crore detected in ICIJ, HSBC cases

New Delhi:The Income Tax department has detected black money worth over Rs 19,000 crore following investigations into global leaks including HSBC account holders in Switzerland.

Finance minister Arun Jaitley said investigations into information, put into public domain by the ICIJ (International Consortium of Investigative Journalists), pertaining to about 700 Indians allegedly linked to offshore entities based in no tax or low tax jurisdiction, have led to detection of more than Rs 11,010 crore of credits in undisclosed foreign accounts.