On Thursday, July 22, the Income Tax Department raided several offices of prominent news banner, the Dainik Bhaskar Group, in connection with an alleged case of tax evasion. The IT raids reportedly followed information of tax evasion and alleged cases of related party transactions and instances of round-tripping of funds. What are Income Tax raids? Also read Tax saving guide: 10 smart ways to save income tax for salaried employeesWhen does the IT department conduct a raid? They can carry out personal searches of any individuals under suspicion of concealing articles or information related to tax evasion.

Source: dna July 23, 2021 13:07 UTC