The Income Tax Department has raided 31 locations of a bullion firm and two real estate developers in Jaipur two days ago and conducted undisclosed surveys and caught undisclosed earnings of over Rs 1,400 crore. In addition to their main business, all three have also found evidence of earning large amounts of money through cash loans.
According to the Central Board of Direct Taxes (CBDT), a survey was conducted in Jaipur on January 19, with 20 locations being raided in 11 places. During this period, documents and digital evidence of undisclosed income of about 650 crore rupees were found during the last 6-7 years of the city's most famous colony manufacturer.
There has been evidence of a total undisclosed income of about Rs 525 crore, including cash loans of about Rs 122.67 crore from the bullion firm. The bullion firm was diverting its undisclosed income through the bank accounts of the employees.
Apart from giving Rs 19 crore on interest to the second real estate group that built commercial centers, documents of total undisclosed income of Rs 225 crore have been seized. Documents have also been found of a Benami property worth Rs 15 crore from a confidential chamber at a location of the company.
The income tax department earns 520 crores in Thane
The CBDT said that in Thane, Maharashtra, on January 12, a well-known builder's group raided the locations in Borivali, Mira Road, and Bhayandar areas and seized Benami cash worth 10.16 crore. Also, evidence of a total undisclosed income of Rs 520.56 crore has been collected. Anonymous locker builders are yet to be searched. The builder has also agreed to pay income tax at Rs 514.84 crore.