India: CBDT asks I-T Department to probe about 3 lakh de-registered firms for money laundering

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March 29 2019

The CBDT has issued directions to Income Tax offices across the country to probe financial transactions of about three lakh firms, de-registered by the government for their dubious financial credentials, for tax evasion and money laundering, especially during demonetisation.

The board has asked the tax offices to undertake this special task and bring under their ambit the time period (over the last two years) when these companies were struck off from the records of the Ministry of Corporate Affairs (MCA).