IT dept detects Rs 880-cr hidden income after survey of Bengaluru company
New Delhi, Jul 13: The Income Tax Department has detected "concealment" of Rs 880 crore income after it surveyed the Bengaluru premises of a leading manpower service providing company, the CBDT said on Tuesday.
The identity of the company was not available immediately.
The survey was carried out on July 8 at two premises of the company.
"The assessee has been claiming huge deduction under section 80JJAA of the Income-tax Act, 1961 which incentivises new employment generation, subject to fulfilment of certain conditions such as emoluments paid to the employee which should be less than Rs 25,000 per month and number of days of employment etc."
"Overall, the survey has resulted in detection of concealment of income to the tune of Rs 880 crore spread over various assessment years," the CBDT said in a statement issued here.
The Central Board of Direct Taxes (CBDT) frames policy for the tax department.
It said the survey operation, a surprise action where the taxman visits only the business premises of an assessee, found that "even though the emoluments of new employees added were more than Rs 25,000 per month, the assessee has been wrongfully claiming deduction under section 80JJAA by excluding certain components of emoluments of such employees to fit into the eligible emoluments limit".
The CBDT claimed it was found that "deduction under section 80JJAA has been claimed in subsequent years, even though certain eligible employees were no longer on the payroll of the assessee."
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Gangolli Police arrest couple in house robbery case within seven hours
Gangolli: In an operation, the Gangolli police arrested a couple accused of a house robbery within seven hours of the incident.
The accused, identified as Vinayak (41) and his wife Pramila (30) from Gujjadi, were taken into custody following a coordinated investigation by the police team.
The robbery took place on the morning of January 21 when a bag containing jewelry was stolen from a house near Trasi Beach. Among the stolen items were a 16-gram gold necklace, a 16-gram bangle, and three gold rings weighing 3 grams, with the total value of the jewelry estimated at Rs 2 lakh. The culprits fled the scene on a scooty.
Following the registration of the case at the Gangolli police station, SSI Harish R. and a team comprising officers Shantaram, Raju, Nagaraj, Raghavendra, Sandeep Kurani, Maruti Nayak, and Dinesh swiftly gathered intelligence and tracked down the suspects by 8 p.m. on the same day. The stolen gold ornaments and the vehicle used in the crime have been recovered.
The accused were presented before the court, and further legal proceedings are underway.
