Tax evasion: I-T raids at more than 10 corporate companies in Bengaluru
According to sources, simultaneous raids are being conducted in C.V. Raman Nagar, Bagmane Tech Park, Hulimavu, besides other locations.
The Income Tax (I-T) department on Wednesday initiated raids at more than ten corporate companies here for allegedly evading taxes and submitting wrong inputs.
According to sources, simultaneous raids are being conducted in C.V. Raman Nagar, Bagmane Tech Park, Hulimavu, besides other locations.
Before conducting the raids, the officials learned that the said companies were adopting fraudulent ways to evade taxes.
They also came to know that the companies were maintaining two sets of documents to mislead the I-T department.
More details are yet to emerge regarding the raids.
An official statement is also awaited.
Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.