Crorepati 'Farmers' From South India Face I-T Probe

Prominent names may come out for allegedly concealing taxable income as agricultural earnings after the IT Department has launched a probe.

Published: 20th March 2016 08:19 AM  |   Last Updated: 20th March 2016 10:19 AM   |  A+A-

Prominent names may come out for allegedly concealing taxable income as agricultural earnings after the Income Tax Department has launched a probe in 2,746 cases where agriculture income is shown more than Rs 1 crore while filing returns. According to Income Tax’s confidential letter dated March 10, 2016, at least 275 cases in Delhi, 181 in Chennai and a maximum 321 cases in Bengaluru with agriculture income more than Rs 1 crore are under the Income Tax scanner. The letter further states that 212 cases in Mumbai, 106 cases from Coimbatore, 109 in Kochi, 162 in Hyderabad, 192 in Pune, 239 in Kolkata and 157 in Thiruvanantapuram are being examined. These cases show over Rs 1 crore returns. Of the total, 307 cases are related to assessment year 2015-16, including 17 cases from Chennai, 18 from Hyderabad and 47 from Bengaluru. The issue also rocked Parliament on Tuesday, with Finance Minister Arun Jaitley saying many prominent people are involved.

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