I-T dept raids Chinese entities in Rs 1,000-crore money laundering case

The Income Tax Department has conducted raids against some Chinese individuals and their local associates for allegedly running an estimated Rs 1,000 crore worth money laundering racket using shell or dubious firms, the CBDT said Tuesday. The department raided at least two dozen premises in Delhi, Gurgaon and Ghaziabad as part of the action under which it covered the Chinese, some of their Indian associates and bank officials, the Central Board of Direct Taxes said in a statement issued here late night.
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