Income Tax raids on leading Ludhiana jewellers
Unlock Exclusive Insights with The Tribune Premium
Take your experience further with Premium access. Thought-provoking Opinions, Expert Analysis, In-depth Insights and other Member Only Benefits
Advertisement
Ludhiana, November 24
The Income Tax Department today raided the premises of prominent city businessmen, including Nikkamal Jewellers, Mall Road; Sardar Jewellers, Ghumar Mandi; and Mani Ram Balwant Rai, near Pavilion Mall.
Advertisement
A total of 26 premises were searched. An official said, “It is mandatory for jewellers to take a copy of PAN card from customers buying jewellery above Rs 2 lakh. Many jewellers split the bills to keep these under Rs 2 lakh so that customers’ details remain unknown.”
The department was expecting to unearth a huge tax evasion, he said.
Advertisement
Advertisement
Advertisement