Rs 70k crore tax evasion probe: Madurai to Shimla — raids at over 70 restaurants over ‘vanishing bill’

Rs 70k crore tax evasion probe: Madurai to Shimla — raids at over 70 restaurants over ‘vanishing bill’

The Income Tax investigation wing has launched a pan-India survey of approximately 70 restaurants suspected of sales suppression totaling Rs 700 crore. This action follows a Rs 70,000 crore probe into billing software manipulation used to evade taxes. Investigations revealed methods like deleting cash transactions and under-declaring revenue.

By U SUDHAKAR REDDY