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Black income of over Rs 200-cr detected in computer raids on financial TN film producers CBDT


This income tax audit began on August 2. Subsequently, more than 40 sites in Chennai, Madurai, Coimbatore and Vellore were attacked.

The Central Board of Direct Taxation (CBDT) has revealed unrecorded income of over Rs 200 crore in a recent raid by the Income Tax Department on some producers, distributors and financiers in Tamil Nadu.

This income tax audit began on August 2. Subsequently, more than 40 sites in Chennai, Madurai, Coimbatore and Vellore were attacked.

An unaccounted amount of Rs 26 crore and gold jewelery worth more than Rs 3 crore were seized during the raid. in this regard. The Central Board of Direct Taxes (CBDT) said in a statement that so far unrecorded revenue of more than Rs 200 crore has been detected in the search operation.

And digital records relating to unrecorded cash transactions and secret and hidden investments, the Central Board of Direct Taxes said. In the case of film production companies, tax evasion has been detected because the actual amounts received when the films are released are greater than the amount shown in the regular books of accounts.

As for film distributors, documents seized show they collected “unaccounted money” from cinemas, the statement said.

According to sources, distributors formed unions and systematically suppressed theatrical collections, which led to the suppression of real income.

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