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Monday, January 24, 2022
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Sonu Sood evaded income tax to the tune of over Rs 20 crore: IT Department

Mumbai: The Income Tax Department in a statement stated that Bollywood actor Sonu Sood evaded income tax to the tune of over Rs 20 crore after raids were conducted at his Mumbai residence for three consecutive days.

As per the preliminary investigation, Sood’s no-profit organization raised RS 2.1 crore from overseas donors in violation of the Foreign Contribution (Regulator) Act under the ambit of the law.

“During the course of search at the premises of the actor and his associates, incriminating evidences pertaining to tax evasion have been found. The main modus operandi followed by the actor had been to route his unaccounted income in the form of bogus unsecured loans from many bogus entities,” said Central Board of Direct Taxes (CBDT) in the statement.

“Investigations so far have revealed use of 20 such entries, the providers of which, on examination, have accepted on oath to have given bogus accommodation entries. They have accepted to have issued cheques in lieu of cash. There have been instances where professional receipts have been camouflaged as loans in the books of accounts for the purpose of evasion of tax. It has also been revealed that these bogus loans have been used for making investments and acquiring properties. The total amount of tax evaded unearthed so far, amounts to more than ₹ 20 crore,” the tax department further added.

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