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Taxman collects Rs 1700cr from cos in raids in FY10-11
The taxman's sleuths have hit a jackpot of sorts having pocketed more than Rs 1,700 crore in raid operations from India Inc in FY10-11. With three months left in the financial year, this amount has already exceeded last year's total kitty.
The taxman's sleuths have hit a jackpot of sorts having pocketed more than Rs 1,700 crore in raid operations from India Inc in FY10-11. With three months left in the financial year, this amount has already exceeded last year's total kitty. CNBC-TV18's Ashwin Mohan gives a lowdown of some of the big ticket raids that have contributed to this.
In FY10-FY11 so far, there have been a total of 30 raids which have been carried out by the Mumbai investigative wing and a total Rs 1,770 crore has been collected in disclosures from companies and individuals. The kitty already exceeded FY09-FY10's total disclosure of Rs 1,400 crore.
The biggest alleged disclosure from GTL Ltd stands at Rs 500 crore. Patel Engineering is the second highest alleged disclosure is as Rs 200 crore, Welspun Group third highest alleged disclosure stands at Rs 124 crore and Keystone Realtors alleged disclosure is at Rs 140 crore. While Gammon India 's disclosure stands at Rs 50 crore, Rolta Group is at Rs 60 crore, Glodyne Technoserve 's alleged disclosure stands at Rs 60 crore.
Realty/builder, telecom and IT/ITES sectors were the top raid targets.
