TaxTMI 
TaxTMI 
8-9 lakh registered companies not filing returns, says Adhia
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....-9 lakh registered companies not filing returns, says Adhia <br>News and Press Release<br>Dated:- 29-4-2017<br><BR>New Delhi, Apr 29 (PTI) As many as 8-9 lakh registered companies are not filing annua....
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....l returns with the Ministry of Corporate Affairs (MCA) and are a potential source of money laundering, Revenue Secretary Hasmukh Adhia said on Saturday. Speaking at the Enforcement Day event here, Ad....
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....hia said the task force set up by the PMO is monitoring these companies every 15 days. "There are 15 lakh registered companies... as many as 8 -9 lakh are not filing annual returns with the corp....
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....orate affairs ministry. They have become a potential threat for money laundering," he said. He said further that if companies do not file returns after getting registered with the MCA, then thes....
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....e are used as potential source of money laundering. "We have given notices to some of them," he said, adding that the task force co chaired by him and the MCA Secretary is keeping a close w....
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....atch on them. According to Adhia, trade based money laundering is also getting prominent these days as was witnessed in the ₹ 6,000-crore Bank of Baroda case. In a major crackdown on domestic ....
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....shell companies, the government in February had decided to take "harsh punitive" action, including freezing of their bank accounts used to launder money or evade taxes.<BR> News - Press rele....
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....ase - PIB....