The Income Tax Department has recently unearthed undisclosed income of over Rs 200 crore after raids on some filmmakers, distributors and financiers in Tamil Nadu. The Central Board of Direct Taxes (CBDT) gave this information on Saturday.
The Income Tax Department has unearthed undisclosed income of over Rs 200 crore after raiding some filmmakers, distributors and financiers.
The Income Tax Department has recently unearthed undisclosed income of over Rs 200 crore after raids on some filmmakers, distributors and financiers in Tamil Nadu. The Central Board of Direct Taxes (CBDT) gave this information on Saturday. On 2nd August, 40 premises of these people associated with the film business in Chennai, Madurai, Coimbatore and Vellore. raid was done. The Income Tax Department has claimed to have seized undeclared cash worth Rs 26 crore and jewelery worth over Rs 3 crore in the raids.
Several documents, digital devices recovered
The CBDT said in a statement that the undisclosed income of more than Rs 200 crore has been unearthed in the search operation so far. He said that during the search operation several documents, digital instruments have been recovered, which are related to unaccounted cash transactions and investments. Information about some confidential premises has also been received during the operation.
The CBDT said that the unaccounted income has been used for making secret investments and making undisclosed payments.
Let us tell you that the Income Tax Department had raided some hospitals in Faridabad, Gurugram and Noida in Haryana last week. In Delhi-NCR, the Income Tax Department raided about 44 locations. Several important documents and electronic evidences related to tax evasion were seized during the search operation.
During investigation, it was found that one of these hospitals had maintained a parallel set of books of accounts, so that the cash collected from the patients who came for treatment could be understated. That is, tax was paid on one receipt book, while the cash of the second prepared book was used to burp the hospital. This hospital used to take full money from the patients during their leave, but by showing a large part of the total amount on the payment ie bill book at a discount, they used to take the rest money as black money.
At the same time, a day earlier, the Income Tax Department took major action on the real estate company Lotus Group in Noida. A 10-member team of Delhi IT department is conducting this raid. The department has raided crores of rupees on the complaint of cash transaction, tax evasion. Lotus had sold the plot to a builder.
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