<div style="float: left;">
		<img align="" alt="Photo: Shutterstock" class="imgCont" height="464" src="http://bsmedia.business-standard.com/_media/bs/img/article/2017-03/17/full/1489705231-9631.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="Photo: Shutterstock" width="620" />
		<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px;">
			Photo: Shutterstock</div>
	</div>

The Income Tax Department has found that Chennai-based Sree Gokulam Chit Fund and Finance evaded tax for around Rs 1,100 crore. This was found during the searches, which were conducted for the last four days.Sources in the Department has confirmed that they have got documents to prove that the Gokulam evaded tax to the tune of around Rs 1,100 crore.The searches were conducted in 76 locations across Tamil Nadu, Puducherry, Kerala and Bengalaru in the last four days."Searches were stopped temporarily, actions will start again from Monday, " said the official adding that the company has admitted to pay the tax, penalty and others.The department acted on some inputs on tax evasion through various methods in the companyGokulam is a Chennai-based company and is mainly into chit fund and finance business. Sree Gokulam Chit & Finance is the flagship company of the Gokulam Group of companies, which is in the business for over four decadesends

Photo: Shutterstock

<div>
	
	Chennai-based Sree Gokulam Chit Fund and Finance evaded around Rs 1,100 crore in taxes, the Income Tax Department found during multiple raids conducted in the last four days.&nbsp;</div>
<br />
<div>
	The searches were conducted in 76 locations across Tamil Nadu, Puducherry, Kerala and Bengaluru. &ldquo;Searches were stopped temporarily, actions will start again from Monday, &rdquo; said the official adding that the company has agreed to pay the tax, penalty and others.</div>
<br />
<div>
	Gokulam is a Chennai-based company and is mainly into chit fund and finance business. <span class="Apple-tab-span" style="white-space:pre"> </span></div>

Gokulam Chit Fund evaded Rs 1,100-crore tax

Searches were conducted in 76 locations in past 4 days