Know About Income Tax Raid: Do you know when and how the raid happens, how the Income Tax Department prepares and what the officers cannot do during the raid. So let’s know about every detail related to the raid.
Income tax raid or income tax raid actually comes under section 132 of income tax. Under this, the officer can raid a person’s business or home anywhere. This action can be taken at any time. Also, there is no fixed time limit for its completion. The operation may be accompanied by seizure of the contraband as well as search of any person present in the entire premises with the assistance of the local police.
Permission to vandalize
Significantly, if the Income Tax Department team finds evidence of major irregularities during the raid or if there is any doubt, then the officers involved in the team are free to act strictly. Even during the raid, the officers can break the locks or even the walls to get the information out. The raid may last for 2-3 days and during this time the people present in the house or office cannot go out without the permission of the Income Tax officials. The Income Tax officials go on raiding and taking all the things in their possession.
That’s why income tax raid
Let us tell you that agencies like Income Tax Department, Central Board of Direct Taxes and Enforcement Directorate ie ED under the Ministry of Finance, keep a close watch on such people who do not pay tax or whose tax and earnings differ. Or such people are on the radar of the Income Tax Department who are suspected of tax evasion. Apart from this, many times these agencies get secret information related to black money or tax evasion, in such a situation raid action is taken to keep an eye on them.
Raid happens with full preparation
The effort of the Income Tax Department is to raid at such a time when the person is not aware of it. In such a situation, he should not get any chance to recover. Most of the raids are carried out in the early morning or late at night for this reason. Actually, action is taken at such a time, so that the accused can be reached at the house quickly and before he can understand anything, he can be nabbed. When raids are conducted, the Income Tax officials are accompanied by the police force and sometimes even the para-military force.
Raid happens because of these reasons
Illegally keeping an amount of more than 1 crore in cash, which has no source. Have acquired more money than the means of income or have a large amount of gold and silver present and there is no account of it. Apart from this, big transactions are also done through bank account and in comparison, less tax returns are filed. Such cases are the main reason for the raid action of the Income Tax Department. Milan may also be raided if there is evidence of unaccounted wealth amassed through narcotics or any smuggling, fraud, counterfeit currency, counterfeit stamps and other illegal acts.
