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IT department raids Chinese individuals and Indian professionals

By IndianMandarins- 12 Aug 2020


The Income Tax department raided certain Chinese individuals and Indian professionals allegedly involved in money laundering and hawala transactions.

They have reportedly unearthed more than 40 bank accounts created by dummy entities that received advances of more than Rs 1,000 crores from shell companies. The Income Tax Department has searched for action was taken at various premises of Chinese entities, their close confederates and a couple of bank employees.

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