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I-T survey: Tax evasion Rs 18.5 cr unearthed
September, 04th 2009

A major income tax (I-T) survey that started on Tuesday evening at the premises of nine builders and five textile groups of the city has yielded Rs 18.50 crore of unaccounted money.

Over 15 teams of Surat I-T department have been carrying out this survey at the premises of these firms in Pal, Pandesara and Katargam since Tuesday.

The highest amount declared by a builder was Rs 5.75 crore, followed by another who disclosed Rs 1.5 crore.

While two disclosed Rs 90 lakh each, another two builders declared Rs 50 lakh each. One builder declared Rs 25 lakh. Sources within I-T department said all builder groups belong to Pal area of the city.

"We have recovered many unaccounted dealings from these builders. We still expect declaration of a large amount of undisclosed income," an I-T official said.

Of the textile groups, a weaving mill declared Rs 2 crore whereas a dyeing mill owner disclosed income of Rs 2.20 crore. Two dyeing-printing unit owners disclosed Rs 1.50 crore each, whereas the fifth group disclosed Rs 1 crore of undisclosed income during the survey.

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