Hinduja Group Survey Operation: These big businessmen are on the radar of Income Tax!
Talking about the ventures of Hinduja Group, established in 1914, these include IndusInd Bank, Hinduja Leyland Finance, Ashok Leyland, Ashok Leyland Foundries and others. A big news has come out regarding Hinduja Group, which had its influence in the business sector since before independence. The Income Tax Department has launched a search operation at the group’s locations in many cities including Mumbai. This action has been taken on allegations of tax evasion.
IT Searches in many cities including Mumbai,
A big news has come out regarding Hinduja Group, which had its influence in the business sector since before independence. The Income Tax Department has launched a search operation at the group’s locations in many cities including Mumbai. This action has been taken on allegations of evading tax payment.
Action as part of tax evasion investigation:
According to the report of Business Today, as part of the investigation into the tax evasion case, this action has been taken by the IT department on the premises of Hinduja Group in many cities including Mumbai. This search operation has been conducted in connection with the investigation of tax evasion under General Anti Avoidance Rules (GAAR).
The group’s business is big in the country:
The report quoted sources as saying that some transactions, which were specifically done under Income Tax rules (IT Act), were meant to avoid taxes. After this the IT department started a survey operation against the group. As per the laws of the Income Tax Department, only the office premises are being covered in this search operation.
No statement from Hinduja Group yet!
Till now no official statement has been issued by Hinduja Group in the matter related to IT raid. Apart from banking and finance sector, the group is now planning to expand its business in tech, digital and fintech sectors. It is noteworthy that established by Parmanand Deepchand Hinduja in the year 1914, the base of Hinduja Group has been India, but its major business is spread in Europe, Asia, Middle East and America.
