The Centre told the Rajya Sabha on Tuesday that the Enforcement Directorate is investigating 1,326 companies for allegedly violating money laundering laws.
Minister of State for Finance Shiv Pratap Shukla said the government had also ordered investigation into the true ownership of 68 companies that deposited and withdrew funds “in an exceptional manner” from banks immediately after demonetisation of high-value currency notes in November 2016. Shukla was responding to a question by Bharatiya Janata Party MP Harshvardhan Singh Dungarpur.
To the question whether any firm had been deregistered following an inquiry into money laundering, Shukla replied in the negative.
Dungarpur also asked the Centre whether any action had been taken against firms for evading taxes. “Appropriate action against evasion of taxes and violation of taxation laws, including against the companies, is an on-going process,” Shukla answered. “Such actions under taxation laws includes searches, surveys, enquiries, assessment of income, levy of taxes, penalties and filing of prosecution complaints in criminal courts, wherever applicable.”
He added that following an investigation, show-cause notices are issued to defaulting companies and the process to recover evaded tax begins.