Rs 300 crore haul in tax raids across Karnataka


Rs 300 crore haul in tax raids across Karnataka

Bangalore, Dec 6 (IANS):
Income tax raids on many cooperative housing societies across Karnataka led to unearthing of Rs.300 crore of unaccounted income, a senior official said Friday.

"Investigations, which began in September-October and are still continuing, revealed that many housing societies did not file income tax returns nor deducted TDS on payments made to developers," income tax spokesman Lokesha said here.

Search and seizure operations also found the societies making huge cash payments to realty firms without proper receipts.

"We are verifying the huge tax evasion by the cooperatives with our investigation wings and field officers of the department," Lokesha added.

  

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Comment on this article

  • Sachidanand Shetty, Mundkur/Dubai

    Sat, Dec 07 2013

    As long as my professional colleagues are there to help them out this kind of business will flourish forever. After all we ask our Client how much you want to show when they ask us “one plus one” is how much? I met one such Lebanese Finance Manager who asked me to work out to reduce the Tax due in one the Gulf Country by saying “you show 10 dummy claims to increase the expenses and let them catch 3 or 4 claims but I am still happy since other dummy claims went unnoticed”

    DisAgree [1] Agree [5] Reply Report Abuse

  • G R PRABHUJI, BEJAI

    Fri, Dec 06 2013

    I don't agree this figure.& I don't believe.Only this small figure?

    DisAgree [7] Agree [21] Reply Report Abuse


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Title: Rs 300 crore haul in tax raids across Karnataka



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