Rs 6.76 crore illegal cash seized from government contractors in Mysuru

Mysuru: The Income Tax Department seized Rs 6.76 crore of unaccounted money from four government contractors on Thursday in Mysuru in election bound Karnataka.

Joint Income Tax Commissioner G. Ramesh in a statement said “Rs 6.76 crore in groups of Rs 2,000 and Rs 500 notes that were not accounted were seized from four of the 10 contractors who were raided from April 24-26 by our investigation wing,”

From the time election dates were scheduled the income tax officers have seized Rs 10.62 crore unaccounted money and gold ornaments esteemed at Rs 1.33 crore. 

“The cash in higher denomination notes was found in the lockers of the contractors under fake names,” Ramesh told the media here. 

Income Tax sleuths on Wednesday raided workplaces and homes of 10 contractors at Mysuru for claimed tax evasion. 

“Raids were led by the authorities of our examination wing on one temporary worker in Bengaluru and 10 contractual workers at Mysuru. They work on projects of the state government’s department through tendering,” said Ramesh. 

The office has connected the deficiency of money notes in a few states the nation over to the accumulating of trade by government contractual workers out Karnataka. 

“Reports of deficiency of cash notes in specific parts of the nation have been making the rounds. Late inquiries by our authorities demonstrated that one reason is hoarding of cash by government contractors in Karnataka,” said Ramesh.

Information gathered by the investigation wing of the duty division additionally demonstrated that few contractors across the state were having gigantic stock of cash of Rs 2,000 and Rs 500 notes.