Luxury brands Harley Davidson, Louis Vuitton under IT Scan
Luxury Brands Louis Vuitton and Harley Davidson and several other prominent players in the business industry have fallen under tax radar for taking cash above Rs. 2 lakh in clear violation of a new income tax law introduced in this year's budget.
Earlier this year between January and March, The Directorate of Intelligence and Criminal Investigation, Department of Income Tax had run a special project to nail these companies.
Moreover, a survey has also revealed that Harley Davidson in Guwahati, Venkys in Pune, a Louis Vuitton dealer, a Gucci dealer, 5-star hospitals in Mumbai, Delhi, Chennai, Lucknow and Indore were accepting cash of more than Rs.2 lakh.
According to sources involved with the survey, a total of 1705 cases were found to be violating Section 269ST of the Income Tax A...