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DB Corp share price declines 4% as I-T dept conducts raids at Dainik Bhaskar's offices

The Income Tax Department on Thursday conducted raids against the media group Dainik Bhaskar in multiple cities over alleged tax evasion, official sources said.

July 22, 2021 / 02:14 PM IST
 
 
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DB Corp share price declined 4.5 percent intraday on July 22 after the Income Tax (I-T) department is reportedly conducting searches at media group Dainik Bhaskar's offices at various locations in the country.

The Income Tax Department on Thursday conducted raids against the media group Dainik Bhaskar in multiple cities over alleged tax evasion, official sources said.

They said the searches are being conducted in Bhopal, Jaipur, Ahmedabad and some other locations in the country.

While there was no official word from the department or its policy-making body, the Central Board of Direct Taxes (CBDT), official sources said the action also involves the promoters of the major Hindi media group with operations across multiple states.

Congress leader and former Madhya Pradesh chief minister Digvijaya Singh said on Twitter that tax officials "are present" at half-a-dozen premises of the group, including at its office at Press Complex in state capital Bhopal.

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With inputs from PTI
Moneycontrol News
first published: Jul 22, 2021 02:14 pm

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