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IT Raid: Income tax raid at many places across the country including Noida of Uflex company

According to the information, IT was already getting information about financial irregularities. There were strong inputs regarding this. The officials raided several states simultaneously at the exact location.ex

By: Team Pardaphash  Pardaphash Group
Updated:
gnews
IT Raid: Income tax raid at many places across the country including Noida of Uflex company

IT Raid: The Income Tax Department has taken major action against Uflex Company Limited. IT has simultaneously raided 64 locations of the company across the country. More than 200 officers of Income Tax are present here since 8 am. These raids are taking place in Uttar Pradesh, Delhi, Gujarat, Maharashtra, Madhya Pradesh, West Bengal, Jammu and Kashmir, Haryana, Tamil Nadu, Uttarakhand and Himachal Pradesh. Search is being done at 20 places in Noida.

It was told that information about tax evasion and unaccounted transactions has been received from the company. After which the first survey was done. The accounts of the company were being monitored for a long time. After which the search is now being run.

The officials raided several states simultaneously at the exact location. At present, the officials are engaged in the investigation. UFlex is India’s largest multinational flexible packaging solutions company. It was established in 1985.

According to media reports, the Income Tax Department conducted these raids because the company was accused of issuing fake bills. However, till now the Income Tax Department has not given any official statement regarding this.

Uflex Limited is a container and packaging company. According to sources, the total market valuation of the company is 3,509 crores. As per the report provided by the company, the total income of the last year stood at Rs.4,152.359 crores and the total sales stood at Rs.4,069.711 crores. The net profit of the company stood at Rs 143.266 crore.

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