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Income tax authorities raid Zee Group and L&T offices, know why action taken

Income tax: The Directorate General of GST Intelligence (Directorate General of GST Intelligence) allegedly shared the data of the GST Evasion with the Income Tax Department (IT Department). On this basis, raids have been taken at Zee Group and L&T offices.




new Delhi. The Income Tax Department raided the offices of media company Zee Group and engineering major Larsen & Toubro (L&T). According to an Income Tax official, information about the GST Evasion was reported against both the companies. The Zee Group has confirmed the income tax department’s raid on their offices. The Income Tax Officer said that the Directorate General of GST Intelligence had shared the data of tax evasion with the Income Tax Department. Raid raids have been taken on this basis.

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Zee group confirmed, company executives are cooperating

A spokesman for the Zee group said that officials of the tax department had reached our office with some questions. Our officials are giving them related information and are fully cooperating with them. However, the spokesperson did not say that the raids are being carried out in all the offices of the group except Mumbai. The Income Tax Department official said that raids have been conducted in group offices in Mumbai and Delhi. Please tell that the founder of the group Subhash Chandra is a Rajya Sabha member. The group has been battling a cash crunch for over a year. The group is also selling some of its businesses to repay the debt.




L&T neither denied nor confirmed it when asked about it. However, the Income Tax Officer said that many offices of L&T were being abandoned. According to sources in the Income Tax Department, it is being investigated in the survey whether the two companies have stolen GST. This is a tax survey follow-up action. In this, limited action is being taken on the company. This survey has been done under Section-133A of the Income Tax Act. According to sources, this is a normal procedure. In this, these suspicious tax reporting is investigated. In this, the input tax credit of the companies is being matched.

 

Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ praveshmaurya24@gmail.com
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