Tax dept. conducts survey in Bengaluru; detects concealed income of around 880 crores

Income-tax Department has carried out a survey operation on 08.07.2021 on two business premises in Bengaluru on one of India’s leading manpower services provider. It was found that assessee was wrongfully claiming deduction under section 80JJAA by excluding certain components of emoluments of employees to fit into the eligible emoluments limit of Rs. 25,000per month. The survey has resulted in detection of concealment of income to the tune of Rs. 880 crore spread over various assessment years.Income-tax Department has carried out a survey operation on 08.07.2021 on two business premises in Bengaluru on one of India’s leading manpower services provider. It was found that assessee was wrongfully claiming deduction under section 80JJAA by excluding certain components of emoluments of employees to fit into the eligible emoluments limit of Rs. 25,000per month. The survey has resulted in detection of concealment of income to the tune of Rs. 880 crore spread over various assessment years.taxmann.com Latest Statutory HappeningsRead More

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