TMI BlogIncome Tax Department conducts surveys in BengaluruX X X X Extracts X X X X X X X X Extracts X X X X ..... Income Tax Department conducts surveys in Bengaluru - News and Press Release Dated:- 14-7-2021 - News - Income Tax Department carried out a survey operation on 08.07.2021 on two business premises in Bengaluru on one of India s leading manpower services provider. The assessee has been claiming huge deduction u/s 80JJAA of Income-tax Act, 1961 which incentivises new employment generation, subj ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ect to fulfilment of certain conditions such as emoluments paid to the employee (which should be less than ₹ 25,000 per month) and number of days of employment etc. During the course of the survey operation, evidences of tax evasion have been gathered regarding wrongful claims of deduction u/s 80JJAA of Income-tax Act, 1961. The investigations further revealed, that, even though the e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... moluments of new employees added were more than ₹ 25,000 per month, the assessee has been wrongfully claiming deduction u/s 80JJAA by excluding certain components of emoluments of such employees to fit into the eligible emoluments limit of ₹ 25,000 per month. Further, it has been found that deduction u/s 80JJAA has been claimed in subsequent years, even though certain eligible emp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... loyees were no longer on the payroll of the assessee. Overall, the survey has resulted in detection of concealment of income to the tune of ₹ 880 crore spread over various assessment years. Further investigations are in progress. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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