Big action by Income Tax Department, disclosure of black income of 1300 crores in Karnataka
The IT department in Karnataka has disclosed a black income of Rs 1,300 crore. (representative picture)
Highlights
⏩ The big action of the Income Tax Department in Karnataka
⏩ Unearthed black income of over Rs 1300 crore
⏩ The action was taken at around 50 locations in Bangalore, Mumbai, and Goa
New Delhi. The Central Direct Taxes Department (CBDT) said that the Income Tax Department has recently unearthed unaccounted income of more than Rs 1300 crore after conducting raids in Karnataka. According to the CBDT, the raids were carried out against those in collusion with some real estate developers in Karnataka. The raids were conducted on 20 October and 2 November at around 50 locations in Bengaluru, Mumbai, and Goa.
CBDT says that in the raids conducted so far, the unaccounted income of more than Rs 1,300 crore has been detected. Apart from this undeclared property found in cash, gold ornaments worth more than Rs 24 crore have also been seized.
After complaining of tax evasion, the Noida Income Tax team raided United Exim, an export company located in B block of Sector-68. During the raid, cash worth lakhs and unaccounted transactions worth crores were found. So far, about 64 lakh cash has been found in the action, which the details of 60 lakh could not be given. About 5 crore rupees are being told in the tax.
