E-Paper
IT dept holds nationwide search in Sahara banks
About 75 para banking branches in several states, including UP, were visited by IT officials for sample survey.
Income tax authorities have conducted a nation wide survey on the Sahara group's para banking operations to get details on their investors and depositors.
An estimated 75 branches in several states including Uttar Pradesh were visited by IT officials for a kind of sample survey, sources said.
Sahara operates its para banking through over 1700 branches across the country.
According to sources in West Bengal, the orders for searches came from the IT head quarters in Delhi, but Sahara group officials were not available for comments.
About eight branches of Sahara were visited by tax authorities in West Bengal, while a number of offices in Gujarat, Maharashtra, Madhya Pradesh and Uttar Pradesh came under scrutiny.
The IT action came under section 133 A of the Income Tax Act of 1961 for getting the details of account holders and depostiors, sources said.
