India Launches Tax Raid on Luxury Hotel Chain Owner Jyotsna Suri and Her Close Aide

New Delhi (Sputnik): In the current FY 2019 – 2020 , the government is likely to face a huge direct tax revenue gap. The last budget tabled by Finance Minister Sitharaman established a direct tax revenue collection target of $188 billion. In the first six months (April –September), the direct tax revenue collection could reach $77.46 billion.

The Indian Income Tax (I-T) department conducted raids on the premises of Jyotsna Suri, Managing Director of Bharat Hotels, in a tax evasion case on Monday. Raids are also being conducted at the premises of Suri’s close aide Jayant Nanda.

Bharat Hotels owns The LaLit, a luxury hotel chain. Jayant Nanda owns Cargo Motors, a leading automobile dealer.

An I-T official said that a total of 12 premised are currently being searched. “There is a big case of tax evasion, which is being investigated,” the official said without disclosing the scope of the evasion or the year which the tax authorities were scrutinising.

Staring at a wide revenue gap in 2019-20, the income tax department held a meeting in Mumbai earlier this month. The department has directed its officials to identify the top 100 cases of suspected income tax evasion and initiate action against them.

The department has also directed its officials to address ‘tax scrutiny’ cases, which have the potential for revenue generation, by 31 January. State auditors have been directed to conduct tax raids and surveys for the purpose of revenue mobilisation.

Sourse: sputniknews.com