Sonu Sood Evaded Taxes of Over Rs 20 Crore, Violated FCRA Norms: I-T Department

Sonu Sood Evaded Taxes of Over Rs 20 Crore, Violated FCRA Norms: I-T Department

Mumbai: Actor Sonu Sood, whose six properties were raided by the Income Tax department, has evaded taxes of over Rs 20 crore, the I-T department said in a statement today. The I-T department officials visited the actor’s home for three days in a row for a search. In a statement, the tax department said that Sonu Sood’s non-profit also raised from overseas donors using a crowdfunding platform in violation of the law – Foreign Contribution (Regulation) Act, that governs such transactions.Also Read – Sonu Sood Once Praised by BJP, Now Considered Tax Evader: Shiv Sena on IT Raids at Actor’s Properties

The statement reads, “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. Investigations so far have revealed the 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.” Also Read – The Reason Why Sonu Sood’s Properties Were Raided by I-T Department

As per the allegations against the actor, his non-profit Sood Charity Foundation was set up in July last year during Covid-19 first wave, has collected donations of over Rs 18 crore till April last 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 organisation’s bank account. Also Read – Sonu Sood’s Mumbai Home And Other Premises Raided By I-T Department : Sources

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The tax department also added in the statement, “The simultaneous search operations carried out at various premises of an infrastructure group in Lucknow in which the actor has entered into a joint venture real estate project and invested substantial funds, have resulted in the unearthing of incriminating evidence pertaining to tax evasion and irregularities in the books of account.”

Sources have said that a recent deal between ‘Sonu Sood’s company and a Lucknow-based real estate firm is under the scanner’ and survey began on allegations of tax evasion on this deal. According to allegations, the Lucknow-based group is involved in bogus billing of subcontracting expenses and diverting funds. The I-T department said, “Evidences of such bogus contracts found so far are to the tune of over ₹ 65 crore… Further investigations are being carried out to establish the full extent of tax evasion. Cash of ₹ 1.8 crore has been seized during the course of the search.”

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