I-T searches 130 premises of Joyalukkas jewellery

Agencies
January 10, 2018

The Income Tax Department today conducted country-wide searches at over 100 stores and other premises belonging to two major south-India based jewellery chains on charges of alleged tax evasion, official sources said.

The action is being carried out against Kerala-based jewellery group Joyalukkas and another firm connected with it.

I-T sleuths are raiding 130 premises of the business houses in the cities of Chennai, Hyderabad, Thrissur and other locations in Kerala, Karnataka, Andhra Pradesh, Telangana, Gujarat, Maharashtra, Delhi and West Bengal, I-T sources said.

The action, they said, is aimed at checking alleged tax evasion following demonetisation in the two firms. Tax sleuths detected huge cash deposits and sale figures of gold, diamond and jewellery in their accounts.

The Chennai wing of the department is coordinating the nation-wide action, involving over 100 tax sleuths and a number of police teams, sources said.

Comments

Abdul Razak
 - 
Wednesday, 10 Jan 2018

Joy Alukkas is world biggest company, even though its GOS Jesus christian follower company, i can see lots of negative from mulims in disguise of hindu names below. GOD Jesus christ bless Joy alukkas

Mohan
 - 
Wednesday, 10 Jan 2018

Finally!!! Great job!

Bala Iyer
 - 
Wednesday, 10 Jan 2018

It is a mystery why the Saravana Group does not attract the attention of any agency.

Rahul
 - 
Wednesday, 10 Jan 2018

Raid them thoroughly and destroy this nest of black money hungry snakes.

Unknown
 - 
Wednesday, 10 Jan 2018

Tax raids were almost forgotten during the last 10 years of congress rule! Why? Same intelligence was there, but it was used to force the target to give donations to party fund.

Anonymous
 - 
Wednesday, 10 Jan 2018

Reliance Jewelers and Gujjus are not making good business. Time to raid these south Indian companies.

Srinivasa Bhat
 - 
Wednesday, 10 Jan 2018

missionaries money. their family has three different groups.. one more gold loan group having more than 10000 branches in all over India, even they penetrated place like munger,jamalpur, gonda, like small towns.. Where ever they working they placed kerla Christian should be there and he/she is responsible & coordinator between local church authority & foreign donor/ conversion group.

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News Network
January 9,2020

Mangaluru, Jan 9: Dakshina Kannada Deputy Commissioner has lodged a complaint with the Police alleging that his signature was forged in a holiday circular for schools and colleges in the district during National General Strike called by Trade Unions.

It may be recalled that the district administration had declared a holiday for all educational institutions on December 20 and 21 in the backdrop of the December 19 violence.

A few miscreants had forged this order and circulated it on social media stating that a holiday had been declared for schools and colleges in the district on January 8.

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Agencies
May 13,2020

New Delhi, May 13: Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral-free automatic loan for businesses, including MSMEs.

This will benefit 45 lakh small businesses, she said detailing parts of the Rs 20 lakh crore economic stimulus package.

The loan will have 4-year tenure and will have a 12-month moratorium, she said.

Also, Rs 20,000 crore subordinated debt will be provided for stressed MSMEs, she said adding this would benefit 2 lakh such businesses.

The Finance Minister said a fund of funds for MSME is being created, which will infuse Rs 50,000 crore equity in MSMEs with growth potentials.

Also, MSME definition has been changed to allow units with investment up to Rs 1 crore to be called micro-units in place of Rs 25 lakh now.

Also units with turnover up to Rs 5 crore to be called micro-units, she said, adding a turnover based criteria is being introduced to define small businesses.

The investment and turnover limits for small and medium businesses have likewise been raised to allow them to retain fiscal and other benefits, she said.

Global tenders will be banned for government procurement up to Rs 200 crore, she said, adding this would help MSMEs to compete and supply in government tenders.

Comments

JM
 - 
Thursday, 14 May 2020

Fully automatic loan..... not reachable to poor needy......

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News Network
July 25,2020

Bengaluru, Jul 25: Former Karnataka Chief Minister Siddaramaiah on Friday said that the ministers of the BJP-led government in the state avoiding a judicial enquiry into the alleged corruption in procurement of medical essentials "is their height of arrogance".

In a series of tweets, Siddaramaiah said, "Why is the government afraid of judicial enquiry on corruption in procurement of medical essentials? If the ministers are so clean, what is holding them back from initiating investigation? This is their heights of arrogance!!"

He said that there should be a judicial enquiry by a sitting High Court Judge to let people know the facts.

"We will submit our documents and let the government submit their documents. If they are confident, why are they reluctant to initiate an investigation?" Siddaramaiah asked.

"Statment from the PMO says 50,000 ventilators are procured at a rate of Rs 4 lakhs per unit. Is this not true? Will Karnataka BJP ministers say that ventilators under PM CARES are sub-standard and lack quality?" he said.

"There will be both basic and premium models in everything. Even the PMO could have bought Rs. 18 lakh worth ventilator. Why did they buy a Rs 4 lakh worth ventilator? What is the justification from ministers for this?" he questioned.

Siddaramaiah asked that if the Medical Education Department sent a proposal worth Rs 815 crores which is not recomended by experts.
"It is true that Medical Education department has sent a proposal worth Rs 815 crores. It is also true that there is a note on the proposal which says that these are not recommended by experts. What is the significance of this note?" he tweeted.

The former Chief Minister said that if the state government is saying that if ventilators were procured during the tenure of Congress-JD(S) government, they must produce the proof.

"They are accusing us for the ventilators procured during the coalition government. I was not in the government then. If they have documents, let them investigate about that also. Let the truth be revealed," he said.

The Congress leader said that the opposition is not interested in playing politics during the time of COVID-19 pandemic.

"We are not interested in doing politics during COVID-19 pandemic, which is why we have not taken up many other pressing issues. But how can we be quiet when hundreds of people are succumbing due COVID-19 mismanagement?" he asked.

Karnataka on Friday reported 5,007 more COVID-19 cases and 110 deaths. The total number of cases in the state stands at 85,870, including 52,791 active cases and 1,724 fatalities, said the state government's bulletin.

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