New Delhi: The Income Tax department is reaching out to taxpayers for AIS_ITR mismatch, declaration of foreign assets and unfiled ITRs. However, now there is another aspect of life that may be under the tax sleuth’s lens. The Income Tax department reportedly reached out to recently married couples in relation to expenses incurred during wedding festivities.
Yes, now the big fat Indian wedding is also under tax lens. To be sure, the Income Tax department is keeping an eye on the expenditure during these weddings.
Tax sleuths unearth unaccounted wedding expenditure worth Rs 7,500 crore
The Income Tax Department raided the premises of 20 wedding planners in Jaipur, the ET reported. According to the I-T Department Rs 7500 crore has been spent in cash on these grand weddings. This amount is unaccounted for, according to the report. These grand weddings involved fake bills, hawala agents, and mule accounts. The wedding business is run by agents in connivance with partners based in Hyderabad and Bengaluru.
Destination weddings, Bollywood stars are giveaways
The Income Tax department is also training its eye on destination weddings, having raided several such functions, according tot he report. Almost 50 -60 per cent of the wedding expenditure in these events was made in cash, according to the Income Tax department. Another wedding type under the tax scanner is when Bollywood stars are flown in on charter flights to perform by the hosts.
From caterers to wedding planners, the Income Tax department is probing all involved in the wedding business to inquire about the mode of expenditure. To determine the scale of the event, tax sleuths are also poring over the wedding guest list. Jaipur-based wedding planners have been identified for allegedly organising these wedding events which seek to paper over to avoid the tax lens, the ET reported.
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