Rs 142 crore seized during tax raid on Hetero Pharma group_ Income Tax investigation in Hyderabad
Rs 142 crore seized during tax raid on Hetero Pharma group_

Rs 142 crore seized during tax raid on Hetero Pharma group: Official sources claimed on Saturday that the Income Tax Department recently raided Hyderabad-based Hetero Pharmaceutical Group after unearthing “unaccounted” income of ₹550 crore and seized over ₹142 crore in cash.

Unaccounted cash of Rs 142 crore in Hyderabad confiscation of money What happened.

A pharmaceutical company group based in Hyderabad exports drugs and pharmaceutical raw materials abroad. The Income Tax Department, suspecting the company of tax evasion, conducted inspections on 6th at 50 locations owned by pharmaceutical companies in 6 states.

Other account books, digital records, purchase documents from fake companies, land purchase documents were found from the hideout.

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Rs 142 crore seized during tax raid

142.87 crore unaccounted cash from 16 bank lockers confiscation of money What happened. The value of the unaccounted assets has been pegged at Rs 550 crore. Further investigation is going on.

Unexplained cash worth ₹ 142.87 crore has been seized so far in the searches.” said in a statement.

The Central Board of Direct Taxes (CBDT) said, “During the searches, several bank lockers have been found, out of which 16 lockers have been operated. Unexplained cash worth ₹ 142.87 crore has been seized so far in the searches.” said in a statement.

Rs 142 crore seized during tax raid on Hetero Pharma group_ Income Tax investigation in Hyderabad
Rs 142 crore seized By CBT during tax raid

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The Most products are exported to the United States and Dubai and some African and European countries

The group is engaged in the business of manufacturing intermediates, active pharmaceutical ingredients (APIs) and formulations, and most products are exported to the United States and Dubai and some African and European countries, the CBDT said.

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