Income Tax Department Detects Rs 50 Million Black Money In Rajasthan.
The Income Tax department detected unaccounted for income of more than Rs 50 million following raids on sand mining, liquor trade, and real estate businesses in the border districts of Rajasthan.
According to reports, thirty-three premises in different locations were covered during the raids that took place on 28 October.
During the search, documentary evidence was found and seized indicating the receipt of unaccounted for cash, as well as its use for the purchase of land.
In addition, evidence of cash sand sales has been found and confiscated. Their analysis reveals that part of these cash sales has not been recorded in the account books.
Unaccounted cash of 2.31 million rupees and jewelry worth 2.48 million rupees have been seized. The action has led to the detection of total unaccounted income exceeding Rs 50 million.
Outside of the above, the assessors have admitted unaccounted income in excess of Rs 35 million and have offered to pay the corresponding taxes.
Eric is a professional news editor, writer, and blogger for the last 10 years. He is working with NewsGater as an off-beat news editor cum writer.