Lavish Weddings On IT Radar: The wedding season for the year 2024 is over. After marriage, married couples go on honeymoon. But instead of honeymoon, they may now have to visit the tax department office. The grand weddings that took place in different cities of the country during the last two months of November and December, and the weddings in which crores of rupees were spent, have now come under the radar of the tax department. These are those grand weddings in which Bollywood stars and celebrities participated and added to the grandeur of the wedding.
Unaccounted expenditure of Rs 7500 crore in weddings
According to the report of Economic Times, Income Tax Department is conducting raids on 20 wedding planners of Jaipur. The Income Tax Department fears that in the last one year, unaccounted cash worth Rs 7500 crore has been spent on grand wedding ceremonies and there is no accounting of this money. The report said that the dubious entry operators, hawala agents, and those running mule accounts, who make fake bills, do this business in collaboration with partners based in Hyderabad and Bengaluru, which is flourishing on the basis of grand weddings held at the places of the rich.
Destination wedding also on the radar!
The Income Tax Department has started raids from this week itself which is going to continue for the next few days. During this raid, the Income Tax Department will find out the transactions done in cash in which 50 to 60 percent of the amount has been spent in collaboration with wedding planners. The source said in the report that this investigation can reach destination weddings held at beautiful places abroad in which chartered flights are booked to transport guests and stars.
IT raid at Vending Planners
The Income Tax Department will calculate the expenses incurred on weddings based on the number of guests present at the wedding and the scale of invitation. Catering firms are also being questioned. Income Tax has the full right under the powers conferred by the Income Tax Act to detect such expenditure which has not been disclosed. An Income Tax official said that, so far in the investigation, it has been found that the wedding planners of Jaipur are the kingpins and planners from other cities contact them to organize events.
How is this fraud going on?
The modus operandi being adopted by them shows that luxury wedding clients approach high-profile event planners at their respective locations, who in turn directly approach event planners in Rajasthan who work in luxury hotels, the tax official said. , together with tent houses, caterers, florists and celebrity managers, plan the wedding.
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