The Income Tax Department on Wednesday conducted raids at over two dozen hospitality companies in NCR in connection with alleged tax evasion of Rs 100 crore.
The raids were conducted at the office and other premises of VDM Hospitality Private Ltd, including of its Directors Deepak Saini, Monika Saini, Vinod Saini, and Sarthak Saini and two more companies which are into hotel and resort business. All the companies have their offices in the NCR.
An Income Tax official, on condition of anonymity, said that these companies did not pay full tax and the Department found that around Rs 100 crore tax, which they evaded, was yet to be collected from them.
“All the companies have many resorts and hotels. They earn around Rs 90 lakh to Rs one crore per day through bookings. But they were showing the less booking amount to evade tax. They had been doing it for sometime which was detected by the I-T Department,” the official said.
Mostly cricket stars and famous personalities book their resort.
The team is scanning the ledgers of these companies. There are possibilities that I-T team might be summoning their CAs to question them in connection with the last three years’ financial transactions, the source said.
They are also scanning the invoices issued by the companies and their ledger accounts.
The teams are recording the statements of the employees who are currently working there, the source said.
As of now, the IT Department has not issued any official statement in this connection.