MumbaiThe Income Tax Department, which conducted a ‘survey’ of several premises belonging to Bollywood actor Sonu Sood, on Saturday said he was involved in tax evasion of over Rs 20 crore. The IT department issued a statement after the ‘Simmba’ actor conducted search and seizure operations and various premises in Mumbai.
The Central Board of Direct Taxes (CBDT) said that as per ANI, the total amount of tax evasion is over Rs 20 crore. The tax department in its statement said that the charity foundation formed by the actor raised Rs 2.1 crore from foreign donors using the crowdfunding platform, which violated the FCRA norms.
The IT department said it found “incriminating evidence” related to tax evasion during searches at the premises of Sood and his associates.
“During searches at the premises of the actor and his associates, evidence relating to tax evasion has been found. The main methodology followed by the actor was to route his unaccounted income in the form of bogus unsecured loans from several people. Fake entities. Now Investigations till date have revealed the use of twenty such entries whose providers, upon verification, have sworn to give bogus housing entries. They have admitted to issuing checks for cash. There are instances where professional receipts have been misappropriated for tax evasion. The purpose has been hidden as loans in the books of accounts. It is also learned that these bogus loans have been used to make investments and acquire assets. The total amount of tax detected so far, amounted to 20 crores in excess of Rs,” the press release read.
.