Sonu Sood evaded tax of more than Rs 20 crore, says Income Tax department; Report

Updated on Sep 18, 2021 01:08 PM IST  |  285.5K
   
Sonu Sood evaded tax of more than Rs 20 crore, says Income Tax department; Report
Sonu Sood evaded tax of more than Rs 20 crore, says Income Tax department; Report
Advertisement

A few days back we told you how the Income Tax department had gone to actor Sonu Sood’s home for surveillance. Reportedly, apart from the actor’s house, six other places linked to him too were being surveyed. Now the latest reports suggest that the actor has evaded tax of over Rs 20 crore. After visiting the actor’s Mumbai home for 3 days in a row for a search, the IT department has found this information. 

The tax department said Mr Sood's non-profit also raised Rs 2.1 crore from overseas donors using a crowdfunding platform in violation of the law - Foreign Contribution (Regulation) Act - that governs such transactions. According to reports in NDTV, the tax department in their statement said, "During the course of search at the premises of the actor and his associates, incriminating evidence 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.”

The tax department further said, "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." 

Further information suggest that Sonu Sood’s non-profit Sood Charity Foundation set up in July last year during the Covid first wave collected donations of over Rs. 18 crore till April this year, out of which Rs. 1.9 crore has been spent on relief work and the balance Rs. 17 crore has been lying unused in the non-profit's bank account.

ALSO READ: Amidst IT surveys on properties, Sonu Sood allegedly violated Foreign Contributions Regulation Act: Report

Advertisement

Comments