business π΅οΈ Income Tax Dept cracks down on shady foreign money
The Income Tax Department has initiated a nationwide verification drive targeting suspicious foreign remittances. This action involves 394 entities and 36 professionals across the country. Specifically, 117 entities located in border districts are under intense investigation. Investigators are scrutinizing shell firms, fictitious trusts, and questionable overseas fund transfers. This crackdown aims to curb illicit financial activities reported by the department. π΅οΈ