Govt orders special audit of DLF
The government on Wednesday informed Parliament that it has ordered a special audit of the accounts of the real estate giant DLF Ltd and would take necessary action after scrutiny.
By PTI |
NEW DELHI: The government on Wednesday informed Parliament that it has ordered a special audit of the accounts of the real estate giant DLF Ltd and would take necessary action after scrutiny.
"A special audit under section 142(2A) of the I-T Act has been ordered in the case of Delhi Lease and Financing Ltd, also known as DLF for the assessment year 2006-07", Minister of State for Finance S S Palanimanickam said in a written reply in the Lok Sabha.
The audit report, the Minister said, "is being examined during the scrutiny proceedings, for taking necessary action..."
When asked whether some housing companies had misled the Income-Tax department regarding their income and profits, Palanimanickam said "Yes" and added that the details, which are being collected, would be tabled in the House shortly.
The Minister also clarified that the government has not ordered a special audit of the accounts of the Darbari Lal Foundation.
The income-tax department can order a special audit of the accounts of a company or individual under Section 142 (2A) of the Income-Tax Act in the interest of revenue.
"A special audit under section 142(2A) of the I-T Act has been ordered in the case of Delhi Lease and Financing Ltd, also known as DLF for the assessment year 2006-07", Minister of State for Finance S S Palanimanickam said in a written reply in the Lok Sabha.
The audit report, the Minister said, "is being examined during the scrutiny proceedings, for taking necessary action..."
When asked whether some housing companies had misled the Income-Tax department regarding their income and profits, Palanimanickam said "Yes" and added that the details, which are being collected, would be tabled in the House shortly.
The Minister also clarified that the government has not ordered a special audit of the accounts of the Darbari Lal Foundation.
The income-tax department can order a special audit of the accounts of a company or individual under Section 142 (2A) of the Income-Tax Act in the interest of revenue.
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