After the initial investigation, the Central Board of Direct Taxes reportedly believes the actor was routing his unaccounted income as unsecured loans from many bogus organizations. The total amount of tax evasion is said to be more than Rs 20 crore.
I-T Dept conducted a search & seizure op at various premises of a prominent actor in Mumbai & also a Lucknow-based… https://t.co/oHC6x2aMAX
— ANI (@ANI) 1631945818000
During the course of search at the premises of the actor &his associates, incriminating evidence pertaining to tax… https://t.co/pUHbOSNrfG
— ANI (@ANI) 1631945869000
The total amount of tax evaded unearthed so far, amounts to more than Rs 20 crore: Central Board of Direct Taxes (CBDT)
— ANI (@ANI) 1631945925000
As per reports, the IT raid was conducted for three days in a row to unearth substantial evidence of tax evasion. The actor’s non-profit allegedly managed 2.1 crores funded by donors outside India violating the Foreign Contribution (Regulation) Act that keeps a tab on these transactions.
As per IT deparment claims actor, whose philanthropic efforts for those affected by the COVID-19 pandemic have earned huge praise, his non-profit Sood Charity Foundation set up in July last year during the Covid first wave collected donations of over ₹ 18 crore till April this year, out of which ₹ 1.9 crore has been spent on relief work and the balance ₹ 17 crore has been lying unused in the non-profit’s bank account.
Raids were conducted on premises of actor Sonu Sood and his associates in the past week across Mumbai, Lucknow, Kanpur, Jaipur, Gurugram and Delhi.
“It has also been revealed that these bogus loans have been used for making investments and acquiring properties. The total amount of tax evaded unearthed so far, amounts to more than Rs. 20 crore,” I-T authorities said.
“The Charity Foundation incorporated by the actor on 21st July, 2020 has collected donations to the tune of Rs 18.94 crore from 01.04.2021 till date, out of which it has spent around Rs. 1.9 crore towards various relief work and the balance of Rs. 17 crore has been found lying unutilized in the bank account of the Foundation till date. It is seen that funds to the tune of Rs. 2.1 crore have also been raised by the Charity Foundation from overseas donors on a crowd funding platform in violation of FCRA regulations,” according to I-T.
I-T officials also raided a Lucknow builder where the actor had invested. The builder is accused of bogus entries (laundering of black money) of more than Rs 65 crore while unaccounted income of the builder has been estimated at over Rs 175 crore.The search operation is still continuing and further investigations are in progress.
The search operation is still continuing and further investigations are in progress.
