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New special unit in I-T Dept to probe undisclosed foreign assets


New special unit in I-T Dept to probe undisclosed foreign assets
Foreign Asset Investigation Units (FAIUs) have been recently created in all the 14 investigation directorates of the Income Tax Department located in various parts of the country
PTI | January 10, 2021 | Updated 22:54 IST
A special unit has been created by the government in the countrywide investigation wings of the Income Tax Department for focussed probe in cases of undisclosed assets held by Indians abroad and possession of black money in foreign shores, officials said.
The Foreign Asset Investigation Units (FAIUs) have been recently created in all the 14 investigation directorates of the tax department located in various parts of the country that are primarily tasked to undertake raids and seizures, and develop intelligence to check tax evasion done by various methods. ....

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