The Income Department recently raided several premises of a popular actor in Mumbai as part of a search and seizure operation. The actor is Sonu Sood, according to sources, and the fast raid revealed some incriminating material linked to tax avoidance.
Following an initial investigation, the Central Board of Direct Taxes reportedly believes the actor was concealing his unaccounted income by obtaining unsecured loans from numerous sham organizations. According to reports, the total amount of tax evasion is more than Rs 20 crore.
According to reports, the IT raid lasted three days in a row in order to uncover significant evidence of tax evasion. In violation of the Foreign Contribution (Regulation) Act, which regulates such transactions, the actor's non-profit allegedly managed 2.1 crores in donations from outside India.
According to IT department claims, actor, whose philanthropic efforts for those affected by the COVID-19 pandemic have earned huge praise, his non-profit Sood Charity Foundation set up in July last year during the Covid first wave collected donations of over 18 crores till April this year, 1.9 crores were spent on relief efforts, while the remaining 17 crores sat idle at the non-profit.
In addition, I-T officials raided a Lucknow builder where the actor had invested. The builder is accused of bogus entries (black money laundering) totaling more than Rs 65 crore, while his unaccounted income is estimated to be more than Rs 175 crore. The search is still going on, and additional investigations are being conducted.
The search is still going on, and additional investigations are being conducted.