NEW DELHI: The government has unearthed as much as Rs 50,000 crore of indirect tax evasion and another Rs 21,000 crore of undisclosed income in the last two years, the finance ministry said on Tuesday. In a statement, the ministry noted that the crackdown on black money has led to seizure of Rs 3,963 crore of smuggled goods in two years, a 32% jump over the previous two years.“The government has taken sustained steps for curbing black money, which includes enactment of a new Black Money Act with strict penalty provisions and new income disclosure scheme formulated for domestic black money,” it said. The government has also constituted a special investigation team (SIT) chaired by former Supreme Court Judge M B Shah.“Many recommendations of Special Investigation Team have been implemented since then,” the ministry said, adding that prosecution has been launched in 1,466 cases as against 1,169 cases in the previous two years. In response to a question in Rajya Sabha, minister of state for finance Jayant Sinha said the government has not issued any guidelines regarding minimising daily financial transactions in cash to curb money laundering, black money and so on.Finance minister Arun Jaitley in his latest budget speech had announced a four-month window beginning June 1for holders of unaccounted wealth to come clean by paying 30% tax plus a penalty of 7.5% and a similar percentage of surcharge. The ministry in its statement said that amendments have been made in Prevention of Money Laundering Act to enable attachment and confiscation of equivalent asset in India where the asset located abroad cannot be forfeited in case of proceeds of crime.It further noted that Foreign Exchange Management Act (FEMA), 1999 provides for seizure and confiscation of value equivalent situated in India, in case any person is found to have acquired any foreign exchange, foreign security or immovable property situated outside India, in contravention of Section 4 of FEMA. In last year’s budget, the government had come out with a tax compliance window for people holding undisclosed assets abroad.A total of Rs 4,147 crore of undisclosed wealth was declared during the 90-day foreign black money compliance window that ended September 30, 2015. At 60% (30% tax and 30% penalty), the government got a net tax of Rs 2,500 crore from the declarations.