A resident of Sabarkantha district in Gujarat has been taken aback after receiving an income tax notice demanding a staggering ₹36 crore in dues, despite his modest monthly earnings of ₹12,000.
Jitesh Makwana, who is employed at a private firm in Ahmedabad, originally hails from Ratanpur village located in Idar, Sabarkantha.
The Income Tax department served a notice at his home, alleging that substantial financial dealings occurred through a company registered under his name, ‘JK Enterprise’.
The notice points to transactions amounting to crores of rupees conducted in Jitesh’s name, yet he and his family reside in a simple home constructed with a government grant of just ₹36,000, obtained under the Indira Awas Yojana scheme.
According to the notice, the Income Tax department, having received information from the CGST (Central Goods and Services Tax) department, identified that Jitesh (through JK Enterprise) claimed an Input Tax Credit (ITC) totaling ₹20.05 crore. Consequently, a tax claim of ₹36 crore has been issued against him.
Jitesh has been instructed to provide the necessary documentation in response to the allegations by April 13, as outlined in the relevant sections of the Income Tax Act.
Read more at: ₹30 CRORE EARNING – Received ₹12.8 CRORE INCOME TAX NOTICE