The Investigation Directorate, Income Tax, Karnataka and Goa have unearthed a huge amount of undisclosed income in their search and seizure operations during 2006-07. The figures released during the financial year mark a staggering jump of 290 per cent over the previous year and is reportedly among the highest in the country.

The department conducted searches and surveys at 100 business premises in Karnataka and Goa during which they unearthed undisclosed income by tax payers to the tune of Rs 507.72 crore.

In 2005-06, the department had unearthed income worth Rs 130.15 crore. Searches also resulted in seizure of unaccounted assets worth Rs 23.74 crore, of which cash seized was of the order of Rs 21.2 crore.

Though seizures of undisclosed income have come from people in various sectors, 61 per cent of them belong to the real estate industry and 15 per cent from the iron ore industry.

Even people in educational establishments have been caught for tax evasion. Ten per cent of tax evaders are from educational institutions, followed by people in marble and granite industry (7 per cent).

The remaining 7 per cent are from professionals such as film stars and those in textile, jewellery industries and contractors.

Majority of the undisclosed income seized is from Karnataka, said the department sources.

The directorate sources attribute the quantum jump in seizure of undisclosed income and assets to “stringent enforcement, effective sources and searches”.

“Seizures are among the highest in the country. They indicate the pace with which Bangalore is growing. It is, however, a negative reflection on the City,” said the source.

He said tax evasion is a ‘habit’ among a section of Indian population though direct taxes in the country are one of the most reasonable in the world.

Meanwhile, taxes collected by the Central Commissionerate during 2006-07 were Rs 788.72 crore against Rs 590.86 crore in 2005-06  a 33.5 per cent increase.