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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Leopard strays into house near Bengaluru family locks it inside
Bengaluru, Apr 3 (PTI): A family in Jigani on the outskirts of Bengaluru had a close encounter with a leopard that wandered into their home on Thursday morning. Acting swiftly, they locked the big cat inside and escaped unhurt, a forest official confirmed.
The incident occurred at Pilla Reddy Layout, where Venkatesh, his wife Venkatalakshmi, and their son Nikhil reside in a rented house.
Jigani, located near the forested Bannerghatta National Park, frequently sees wildlife movement, including leopards and elephants, the forest official added.
As the family prepared for the day, they were startled to find the leopard inside their home.
Overcoming their initial panic, they managed to rush out and secure the door from the outside.
Venkatesh then alerted neighbours and informed the police and forest department.
A forest team promptly arrived, tranquilised the animal, and safely caged it.
Meanwhile, a large crowd gathered to witness the rescue operation.
Police were deployed to maintain order and prevent any untoward incidents.
