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The Income Tax Department is investigating tax evasion by six companies that offer foreign tour packages. These companies are being looked into for various allegations, including under-reporting income, not deducting the prescribed tax (TDS), and potentially being involved in transferring money abro
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FAQ :
Six companies that offer foreign tour packages are being investigated by the Income Tax Department.
The companies are alleged to have under-reported income, failed to deduct Tax Deducted at Source (TDS), and may have used unofficial means for transferring money abroad.
The tax evasion instances are reported to have occurred from the financial year 2019-2020 onwards.
The total tax evasion from all six operators is estimated to be around ₹600 crore (approximately £600 million).
Investigations have revealed the use of fake names, addresses, and identities for booking tour packages, including booking expensive packages under fake identities for individuals who could not afford them.
TDS stands for Tax Deducted at Source. The companies are accused of not deducting the mandatory 5% TDS on tour package bookings, which is a violation of tax regulations.
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