In an official statement, the Income Tax department said it had detected alleged tax evasion on Rs 700 crore of income over six years by the Dainik Bhaskar group.
The Income Tax department on Saturday said it has detected that DB Corp, also known as the Dainik Bhaskar Group, allegedly evaded taxes on Rs 700 crore of income over a period of six years.
In its official statement, the tax department said that the conglomerate was evading taxes by operating companies in the names of its employees to “book bogus expenses” and “siphon off profits”.
The Dainik Bhaskar Group has denied the allegations and claimed the income tax raids came only after its media coverage during the devastating second wave of Covid-19 in India exposed the government’s lapses.
On Thursday, tax officials had initiated a search operation on the Dainik Bhaskar Group. Raids were conducted at several locations including 20 residential and 12 business premises spread over nine cities including Mumbai, Delhi, Bhopal, Indore, Noida and Ahmedabad.
IT DEPT ALLEGES BOGUS EXPENSES, ROUTING OF FUNDS
The Income Tax department said in its statement, “DB Corp is involved in various sectors including media, power and real estate. The group has a turnover of more than Rs 6,000 crore per annum. It has more than a hundred companies including the holding and subsidiary companies.”
“During the search, it was found that they [DB Corp] have been operating several companies in the names of their employees, which have been used for booking bogus expenses and routing of funds. Several of the employees, whose names were used as shareholders and directors, have admitted that they were not aware of such companies and had given their Aadhaar card and digital signature to the employer in good faith. Some were found to be relatives, who had willingly and knowingly signed the papers but had no knowledge or control of the business activities of the companies in which they were supposed to be directors and shareholders,” the Income Tax department claimed.
Please LIKE, SHARE & SUBSCRIBE us for more updates... ✔
Also Follow us on π
YouTube : https://www.youtube.com/channel/UCoXKU4kIaKnOxIsqUjzWreQ
Instagram :
https://www.instagram.com/thebhopalnews
Twitter :
https://www.twitter.com/thebhopalnews
Facebook :
https://www.facebook.com/thebhopalnewschannel
Pinterest: https://www.pinterest.com/thebhopalnews
Telegram: https://t.me/thebhopalnews
------------●●●●●●●●------------
#HindiNews #DainikBhaskar #ITDepartment #SudhirAgarwal #SocialMedia #CoronaInTheCountry #CoronaInIndia #VaccineInIndia #MadhyaPradesh #Bhopal #Mp #MpNews #BhopalNews #TheBhopalNews #NewsChannel #BreakingNews #Latestnews #IndianNews #WorldNews #NationalNews #StateNews #CapitalNews #Corona #CoronaCases #Covid19 #CoronaVaccine #CoronaUpdates
0 Comments