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ED registers 131 cases of lottery, hawala rackets involving Rs 4,452 cr

Press Trust of India  |  New Delhi 

The (ED) has registered 131 cases of running and rackets involving Rs 4,452.5 crore in the last three years, Parliament was informed Tuesday.

Replying to a question in Rajya Sabha, Shiv said the ED has arrested 2 persons in cases of and rackets.

"The total money involved in cases having both domestic and foreign connections is Rs 4,452.5 crore," he said in a written reply to the House.

In a separate reply, Shukla said the has received representations from various startups requesting change in their valuation and the matter is under consideration.

Several startups have raised concerns on taxation of angel funds under Section 56 of the Income Tax Act, which provides for taxation on funds given by angel investors.

"Representations have been received from startups requesting change in startup valuation. The matter is under consideration. However, as an interim measure, CBDT has instructed field authorities not to take coercive measures to recover the outstanding demand till further instructions," Shukla said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 08 2019. 19:25 IST