Quick Summary
Income Tax Department carried out a survey operation on 08.07.2021 on two business premises in Bengaluru on one of Indias leading manpower services provider. The assessee has been claiming huge deduction u/s 80JJAA of Income-tax Act, 1961 which incentivises new employment generation, subject to fulfilment of certain conditions such as emoluments paid to the employee (which should be less than Rs. 25,000 per month) and number of days of employment etc. During the course of the survey opera
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FAQ :
The Income Tax Department conducted a survey operation on two business premises in Bengaluru on 8th July 2021.
The survey was carried out on one of India's leading manpower services providers.
The company is being investigated for wrongful claims of deduction under Section 80JJAA of the Income-tax Act, 1961, which relates to new employment generation.
The company allegedly excluded certain components of employee emoluments to stay within the Rs 25,000 per month limit for the deduction and claimed deductions for employees no longer on their payroll.
The survey has resulted in the detection of concealed income amounting to Rs 880 crore across various assessment years.
No, further investigations are currently in progress.
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