CBDT claims Rs 880-cr concealed income detected

New Delhi: The Income Tax Department has alleged "concealment" of Rs 880 crore income after it surveyed a leading manpower service providing company in Bengaluru.

The company, Quess Corp Limited, has refuted the charge, saying it was extending full cooperation to the department and that it has not received any claims to date.

The survey operation was launched on July 8 at two premises of the company in the capital city of Karnataka.

"The assessee has been claiming huge deduction under section 80JJAA of the Income-tax Act, 1961 which incentivises new employment generation, subject to fulfilment of certain conditions such as emoluments paid to the employee which should be less than Rs 25,000 per month and number of days of employment etc," the CBDT had said in a statement issued here on Tuesday.

"Overall, the survey has resulted in detection of concealment of income to the tune of Rs 880 crore spread over various assessment years," it claimed. The Central Board of Direct Taxes (CBDT) frames policy for the tax department.

When sought a response, a company spokesperson provided to PTI its statement filed before the stock exchange on Wednesday in connection with the survey conducted against it and its subsidiary, Terrier Security Services.