Companies

GTL Infra admits hidden income of Rs 500 cr to I-T Dept

PTI New Delhi | Updated on March 12, 2018

Telecom company GTL Infrastructure has admitted undisclosed income of more than Rs 500 crore to the Income Tax department, Parliament was informed on Friday.

“In consequence to a search action conducted in 2010, a group (GTL Infrastructure) had admitted undisclosed income of Rs 500.65 crore,” the Minister of State for Finance, Mr S S Palanimanickam, told Lok Sabha in a written reply today.

In a separate reply, the Minister said the Enforcement Directorate has issued notices worth Rs 22 crore in connection with Hawala transactions this year.

“During the current year up to October 2011, the Directorate of Enforcement has issued 117 show cause notices involving an amount totalling to Rs 2246.31 lakh in respect of Hawala in contravention of the provisions of the Foreign Exchange Management Act (FEMA),” Mr Palanimanickam said.

Published on December 09, 2011

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

null
This article is closed for comments.
Please Email the Editor

You May Also Like