I-T department nets Rs 2,900 crore in 586 searches

A month after the announcement of demonetisation on November 8, the income tax department carried out a record 586 searches across the country which yielded more than Rs 300 crore in cash seizures, Rs 79 crore in new currency notes of Rs 2,000, and unaccounted income of Rs 2,600 crore.

The highest seizure has been from Tamil Nadu where the tax department recovered more than Rs 100 crore in cash in one single search in Chennai.

The total cash seizure from Tamil Nadu has been in excess of Rs 140 crore besides gold seizure worth Rs 52 crore.

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