The 5 allegations against the actor Sonu Sood by the tax service

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The Income Tax Department has launched a massive tax evasion investigation against Bollywood actor Sonu Sood covering 28 locations and 6 cities. After large-scale search and seizure operations at various premises, the IT department found “prosecution evidence” relating to tax evasion of Rs. 20 crore.

According to the financial watchdog, Sonu Soodin’s unrecorded income in the form of “bogus loans and unsecured entities” has been discovered. The IT department also revealed that there had been instances where business receipts had been camouflaged as loans in the books of accounts. for the purposes of tax evasion.

Five Major Income Tax Department Allegations Against Sonu Sood – 1. Donations worth 18.94 cr collected, only 1.9 cr used

According to the IT department, the fake transactions date back to June 2020, when Sonu Sood formed a charitable foundation for various relief work related to COVID-19. The IT department says the foundation has collected donations to the tune of Rs. 18.94 crore from March 2021 to date, of which it has spent only Rs. 1.9 crore on various relief work. A balance of Rs.17 crore was found unused.

2. Foreign donations worth Rs. 2.1 cr violating FCRA standards

The Income Tax Department further alleged that several of these donations to Sood’s charitable foundation were collected from foreign entities largely through crowdfunding platforms. These were held in violation of the Foreign Contributions (Regulations) Act 2010. “It is seen that funds to the tune of Rs 2.1 crore have also been collected by the Charity Foundation from foreign donors on a crowdfunding platform in violation of FCRA regulations.” An official statement revealed. .

3. False receipts with the company JV infra of Rs. 65 cr

Sonu Sood is said to have entered into a joint venture for a real estate project with Lucknow-based infrastructure group JV Infra where he has invested significant funds. The company has shown evidence of tax evasion and irregularities in the books of account. “Evidence of these fake contracts found so far amounts to over Rs. 65 crore. Evidence of unrecorded cash expenditure, unrecorded scrap metal sale and digital data proving unrecorded cash transactions have also been found, ”the income tax department said.

4. Rs. 175 cr circular questionable transaction from JV company

As for the company in question, it was found that JV Infra entered into a questionable circular transaction to the tune of Rs. 175 crore with another company based in Jaipur. Evidence of unrecorded cash spending, scrap metal sales, and digital data supporting unrecorded cash transactions were found. Other investigations are underway to analyze the full extent of tax evasion.

5. Unpaid income tax in the amount of Rs. 20 cr

The IT department revealed that the main modus operandi followed by Sonu Sood was to funnel its unrecorded income in the form of bogus unsecured loans from many bogus entities. Investigations have so far revealed the use of about 20 of these entries, which the providers, upon examination, have agreed to have given as bogus hosting entries. “They have agreed to have issued checks instead of cash. The total amount of evaded tax discovered so far is over Rs 20 crore,” the IT department said.

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