IT Department Seizes 44 Crore Money And 1251 Carat Diamonds at All Offices Of Kalki Ashram
The massive raids were held at Kalki Bhagwan ashram for three consecutive days from Wednesday and ended up recovering a huge quantity of gold diamonds, and the unaccounted money.
The massive raids were held at Kalki Bhagwan ashram for three consecutive days from Wednesday and ended up recovering a huge quantity of gold diamonds, and the unaccounted money. The Income Tax Department disclosed income worth Rs 500 crore, besides tax havens.
Income-Tax authorities have seized cash of Rs 44 crore, $2.5 million (Rs 18 crore) foreign currencies and about 88 kg of gold.
"Total value of seizure so far is approximately Rs 93 crore. The undisclosed income of the group detected so far is estimated at more than Rs 500 crore," the Tax Department said in a release.
"The search action which is still in progress has covered about 40 premises located in Chennai, Hyderabad, Bangalore and Varadaiahpalem," the tax department said.
The companies run by Kalki in various parts of the country found to be invested. As per the income tax (I-T), the companies based in China, the US, Singapore, the UAE, etc. have been receiving payments from clients and devotees who attend "wellness" courses offered in India. The department is investigating the diversion of income taxable in India to offshore entities by the group in this process.
"Instances have also been found where the group was not accounting for money received from foreign clients in cash in foreign currency and then exchanging the same in the grey market. All these leads are being pursued and the investigation is in progress," the Tax Department said.
The Kalki ashram found in the 1980s has invested in real estate, construction, sports, etc. in India and abroad and is managed by Kalki and his son.