Bollywood actor Sonu Sood, who has develop into an enormous identify over the pandemic as he helped 1000’s of folks in want, has come beneath the radar of Income Tax Department. The reviews cited that three-day search was performed on Sonu Sood’s properties. Now, the division claims that the actor has evaded a tax of over Rs. 20 crore.
According to NDTV, the division mentioned in an announcement, “During the course of search at the premises of the actor and his associates, incriminating evidences pertaining to tax evasion have been found. The main modus operandi followed by the actor had been to route his unaccounted income in the form of bogus unsecured loans from many bogus entities.”
The division additional informed the information company, “Investigations so far have revealed use of 20 such entries, the providers of which, on examination, have accepted on oath to have given bogus accommodation entries. They have accepted to have issued cheques in lieu of cash. There have been instances where professional receipts have been camouflaged as loans in the books of accounts for the purpose of evasion of tax. It has also been revealed that these bogus loans have been used for making investments and acquiring properties. The total amount of tax evaded unearthed so far, amounts to more than Rs. 20 crore.”
The Income Tax Department mentioned that Sonu Sood’s non-revenue organisation raised Rs. 2.1 crore from donors from abroad utilizing a crowdfunding platform. According to them, it was in violation of the legislation – Foreign Contribution (Regulation) Act.
The report prompt that there have been allegations made towards Sood for his philanthropic work amid the COVID-19 pandemic. Over Rs. 18 crore was raised until April this yr, by his Sonu Sood Foundation which was arrange again in July final yr. It is alleged that Rs. 1.9 crore was spent on the reduction work whereas the stability Rs. 17 crore is mendacity unused within the again of his non-revenue.
The survey operation on tax evasion started put up Sonu Sood’s firm’s take care of a Lucknow primarily based actual property agency. “The simultaneous search operations carried out at various premises of an infrastructure group in Lucknow in which the actor has entered into a joint venture real estate project and invested substantial funds, have resulted in unearthing of incriminating evidences pertaining to tax evasion and irregularities in the books of account,” the division mentioned, NDTV reported.
The tax division mentioned that there have been evidences of such bogus contracts discovered thus far by them which might be to the tune of over Rs. 65 crore. The investigation is at present in full swing as Rs. 1.8 crore money has been seize throughout the search.
During the Covid-19 pandemic, Sonu Sood stepped ahead to assist all those that reached out to him and was extensively recognised for his humanitarian work.
Also Read: Income Tax department surveys six locations linked to actor Sonu Sood
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