Overseas Remittances Under Scrutiny: Addressing Concerns

The Income Tax Department has uncovered a significant overseas remittance network involving 6,422 new entities that collectively transferred Rs 1.29 lakh crore abroad. This investigation has already led to action against 394 firms, with more companies and individuals now under scrutiny. The probe coincides with ongoing pressure on the Indian rupee, prompting the Reserve Bank … The post Overseas…