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 fulf
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited News Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
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.
CAclubindia
