Income Tax raids at Chettinad Group

The Income Tax (IT) department is conducting searches at companies, offices and residential properties belonging to the Chettinad Group headed by M.A.M.R.Muthiah. According to the taxmen over 50 locations in Chennai and the rest of India are under the scanner now. “We suspect a huge tax evasion. This is a huge group so the searches will take 2-3 days to get over,” said an investigating officer from the IT department.

Headquartered out of Chennai, the over 100 year old Chettinad Group has several businesses including construction, cement, power, steel fabrication, healthcare, coal terminal, transportation among others. Officials from the Income Tax department said that more details will be shared later in the day.

The IT department had conducted searches on this group in 2015 too.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.