Nashik: The Income Tax (IT) department on Thursday started searches at the premises of the seven. onion merchant In Nashik District.
Raids are being conducted at 20 places in the district, including 13 in Pimpalgaon and seven other places in rural parts of the district.
Sources in the IT department said searches are being conducted to find out whether these traders have any unaccounted income and whether they are paying tax on their total income.
“We have just started the search. It will take a day or two to complete it. Our focus is to check any unaccounted income and assets that these traders may have, apart from possible black marketing and hoarding, in which they may be involved,” said sources in the IT.
IT officials have also seized some documents from the traders for further investigation. Twenty teams of over 100 officials of IT departments in Nashik, Aurangabad and Pune are conducting joint searches at the residences and offices of these seven traders from 8.30 am on Thursday.
When contacted, office-bearers of the Nashik Onion Traders Association confirmed the searches by IT officials, but declined to comment on the issue.
In November last year (2020), IT officials had searched 11 onion traders in Lasalgaon and Pimpalgaon after the average wholesale price of onions crossed Rs 5,000 per quintal. IT officials had searched the residences, offices and godowns of the traders.
Onion prices fall
The average wholesale price of onion in the country’s largest wholesale onion market Lasalgaon Agricultural Produce Market Committee (APMC) fell from Rs 2,700 per quintal on Wednesday to Rs 2,500 per quintal on Thursday. Earlier, the average wholesale price of onion at Lasalgaon APMC had increased to Rs 3,700 per quintal, while the maximum wholesale price of onion had gone up to Rs 4,121 per quintal due to fall in onion supply.
Heavy rains in September and October have affected onion crop in Nashik district, the country’s major onion growing district.
Raids are being conducted at 20 places in the district, including 13 in Pimpalgaon and seven other places in rural parts of the district.
Sources in the IT department said searches are being conducted to find out whether these traders have any unaccounted income and whether they are paying tax on their total income.
“We have just started the search. It will take a day or two to complete it. Our focus is to check any unaccounted income and assets that these traders may have, apart from possible black marketing and hoarding, in which they may be involved,” said sources in the IT.
IT officials have also seized some documents from the traders for further investigation. Twenty teams of over 100 officials of IT departments in Nashik, Aurangabad and Pune are conducting joint searches at the residences and offices of these seven traders from 8.30 am on Thursday.
When contacted, office-bearers of the Nashik Onion Traders Association confirmed the searches by IT officials, but declined to comment on the issue.
In November last year (2020), IT officials had searched 11 onion traders in Lasalgaon and Pimpalgaon after the average wholesale price of onions crossed Rs 5,000 per quintal. IT officials had searched the residences, offices and godowns of the traders.
Onion prices fall
The average wholesale price of onion in the country’s largest wholesale onion market Lasalgaon Agricultural Produce Market Committee (APMC) fell from Rs 2,700 per quintal on Wednesday to Rs 2,500 per quintal on Thursday. Earlier, the average wholesale price of onion at Lasalgaon APMC had increased to Rs 3,700 per quintal, while the maximum wholesale price of onion had gone up to Rs 4,121 per quintal due to fall in onion supply.
Heavy rains in September and October have affected onion crop in Nashik district, the country’s major onion growing district.
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