I-T department uncovers ₹800cr CSR scam, raids 30 locations
The Income Tax (I-T) department has uncovered a massive scam where over ₹800 crore meant for Corporate Social Responsibility (CSR) was funneled through bogus non-profits.
Since August 19, officials raided 30 locations across six states, finding that organizations claiming to support education and welfare were actually redirecting funds using shell companies and fake trusts.
Investigation focuses on 3 main trusts
The investigation is focusing on three main trusts—Jan Jagriti Sevarth Sansthan (Mathura), Dr Brajmohan Sapoot Kala Sanskriti Seva Sansthan (Bhilwara), and Raginiben Bipinchandra Sevakarya Trust (Ahmedabad).
Authorities suspect these groups of tax evasion and money laundering, and the investigation has uncovered evidence of bogus foreign remittances totaling over ₹10,000 crore.
The case also involves corporate players, accountants, and diamond merchants. More details are expected as the probe continues.