Ludhiana: Raids Income Tax on several bicycles The company in the city continues on Friday and a different team of the rest department is included in the factory several raid companies located in industrial areas, Focal Point Phase 4, Kanganwal, Dhandari Kalan etc.
Although the investigative wing from The income tax department is still silent again why the raids are done and whether something is burdensome to the tax evasion by any company has recovered until now.
Sources, however, notify that department officials are still through account books, documents, banking transactions, property paper etc.
and even physically check the stock of these companies to detect differences.
Meanwhile Raids I-T draws large hatred of industrialists, especially those connected with the bicycle industry are the feeling that this action is inappropriate.
A prominent cycle industry, who wants anonymously, said, “This raid has sent a large shockwave between the cycle industry because raid companies include several highly famous medium-scale companies that only conduct original business transactions while several companies raiding not to have a type of business great thing to do with them.
anyone in our industry who knows about the names of raid companies is not ready to believe that these companies can enjoy tax avoidance or other malpractice “other business people say,” on the one hand, the new industry Start out of recession after a long time and began to get a lost business back but on the other hand, such a big action had created fear among entrepreneurs since yesterday, several factories and shops dealing with raid companies or located on near the brand A has suspended their operations “Meanwhile various theories about why the action was taken on so many companies from the same industrial segment conducting rounds in the city, one of which was rumors that conducted a round of claiming that IT actions had been taken on greater complaints of companies threatened by Increased competition from this medium and small scale company.
Other rumors say that these companies might be raided when they participated in the government’s tender from bicycle purchases, but after confirmation from various sources it appeared that only two companies entered the tender business.