Income tax department has raided Sonu Sood’s residence a fews days back. The department also surveyed six other places linked to him.
Now according to the reports the actor has been allegedly evaded tax of over Rs 20 crore. The IT department after visiting the actor’s Mumbai home for 3 days in a row has found this information.
According to the department, the actor’s non-profit also obtained Rs 2.1 crore from overseas donors by utilising a crowdfunding website in contravention of the rules governing such transactions, the Foreign Contribution (Regulation) Act.
According to reports in NDTV, the tax department in their statement said, “During the course of search at the premises of the actor and his associates, incriminating evidence pertaining to tax evasion have been found. The main modus operandi followed by the actor had been to route his unaccounted income in the form of bogus unsecured loans from many bogus entities.”
The tax department further said, “Investigations so far have revealed use of 20 such entries, the providers of which, on examination, have accepted on oath to have given bogus accommodation entries. They have accepted to have issued cheques in lieu of cash. There have been instances where professional receipts have been camouflaged as loans in the books of accounts for the purpose of evasion of tax. It has also been revealed that these bogus loans have been used for making investments and acquiring properties. The total amount of tax evaded unearthed so far, amounts to more than ₹ 20 crore.”
During the Covid-19 pandemic last year, the non-profit Sonu Sood Charity Foundation was established by the actor. By April of this year, it had raised over Rs. 18 crore in donations, of which Rs. 1.9 crore had been spent on relief efforts and the remaining Rs. 17 crore had remained in the non-profit bank account.