India, Aug. 23 -- Income tax investigators have uncovered a corporate social responsibility (CSR) fund siphoning racket worth over Rs.800 crores, after raiding 30 locations across six states, IT officials said on Saturday.
The Income Tax Investigation Unit in Agra carried out searches in Uttar Pradesh, Rajasthan, Gujarat, Maharashtra, West Bengal and Madhya Pradesh since August 19, targeting non-profit organisations suspected of misusing CSR donations mandated under Section 135 of the Companies Act, a senior Income Tax official said.
The ongoing operation, directed by the principal director of Income Tax (Investigation) in Kanpur, is still continuing with major findings related to tax evasion worth several crores expected, an official r...
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