Income Tax Raid Hidden Facts: You must have heard that a lot of cash and gold and silver was seized in the income tax raid. Then this question must have come to mind that where does all this stuff seized in the raid go. Very few people know the truth about this. Let us know about this in the news.
IT raid rules Saving tax in the wrong way can prove to be costly for anyone. This comes under the category of tax evasion and the Income Tax Department can raid (Income Tax Raid Rules) as soon as it suspects it. Even after receiving information, the Income Tax Department officials can raid (IT raid rules) the business premises, offices or home of the concerned person.
Of course, in this situation also, the person whose place is raided also has some rights (taxpayer’s rights in IT raid), but the thing to note is where does the cash and gold caught in the raid (income tax raid process) go. Let’s know the answer to this question also in the news.
The department takes action when you come on the radar-
If there is a difference between the tax paid (income tax rules) and the annual income, you come on the radar of the Income Tax Department. The Income Tax Department, Central Board of Direct Taxes and Enforcement Directorate (ED) can raid anytime on the information of hiding income, tax evasion, accumulating black money, saving tax by fraudulent means. This is done under section 132 of the Income Tax Act.
The entire matter is kept secret-
Wherever income tax raids take place, all the details about it are kept secret. Even the members of the income tax team do not know where the raid will take place. All the secrets are revealed only after reaching the spot. The team takes steps very cautiously so that the person concerned does not get any chance to escape.
Time of raid-
Income tax raid (IT raid kyo hoti h) comes suddenly. There is no fixed time for it. Usually raid (IT raid time) is done very early in the morning or late at night. Income tax team carries warrant (IT raid ka warrant) for house search. Before raiding it is shown to the concerned person, whose place is being raided.
Restriction on going in and out-
Income tax officers may be accompanied by police and other security personnel. During the raid (income tax ki raid) people present in the house, office or establishment cannot go here and there. Neither can anyone come in nor can anyone go out. For this they will have to take permission. The raid can go on for any length of time and the team has the right to search every man or woman present there.
These items cannot be confiscated-
If there is a complete record of cash, gold or other valuables kept at the place where the income tax team raids and it is shown in the ITR (income tax return), then the raiding team cannot confiscate it. Apart from this, the goods kept there for sale cannot be confiscated, it can be noted and the documents related to those goods can be confiscated.
What are the rights of the concerned person-
It is not that the person whose place is raided does not have any rights during the raid. He also has many rights (taxpayer’s rights). The concerned person can ask the Income Tax Department team and officers to show the warrant and identity card.
Male employee cannot search a woman-
No employee of the raiding team can stop the concerned person or children from eating food or going to school after seeing the school bag during the raid (income tax raid ke niyam). Only the female employee of the team has the right to search another woman, even if that woman has hidden some documents etc. in her clothes. A male employee cannot search a woman.
What happens to the seized goods and cash –
The goods and cash seized during the raid conducted by the income tax team, after investigation, are deposited in the bank account linked to the commissioner of the income tax department.
A tax amount is decided by calculating and assessing this cash and goods which have been hidden. This tax amount is deducted from this cash and goods. After this, the amount and goods which are left are returned to the same person from whose place the raid was conducted.
