Overview
- The Central Board of Direct Taxes (CBDT) has initiated a comprehensive enforcement drive to uncover Rs 2.4 lakh crore in undisclosed income during FY 2025.
- Each jurisdiction must conduct at least one major search and seizure operation by July 31, with two more required by March 2026.
- The strategy mandates a 60/40 split between intrusive actions, such as raids, and non-intrusive methods leveraging data analytics and financial intelligence.
- The CBDT's Investigation Wing will focus on high-risk sectors like manufacturing, services, mining, liquor trade, and hawala transactions to combat tax evasion.
- India's provisional direct tax collections for FY 2024-25 have surpassed expectations, reaching Rs 11.83 lakh crore, with a 17% year-on-year increase and tax buoyancy at 1.57.