9 lakh firms not filing tax returns being monitored, says revenue secretary
Hasmukh Adhia said such companies are be used as a potential source of money laundering.(Representative image)
About 900,000 registered companies do not file annual returns and are potential sources of money laundering, a top government official said on Saturday, as Finance Minister Arun Jaitley pitched for the country’s top anti-financial crime agency to be used “expeditiously” against tax cheats.
Revenue secretary Hasmukh Adhia said the Prime Minister’s Office had set up a task force to monitor these companies and “there is no reason for us to let such companies operate in India”.
Credit: hindustantimes.com