I-T department detects over Rs 5800 crore hidden income in MSME

The Income Tax department has discovered more than Rs 5,800 Crore of concealed income in the low-profile Micro, Small and Medium Enterprises sector during the fiscal 2010-11. This was detected by the IT department after it carried out over 3,900 raids. Almost 45% of the manufacturing o/p of the nation is accounted by the Micro, Small and Medium Enterprises.

Month: Current Affairs - May, 2012