Hinduja Group arm HGS charged with Rs 2,500 cr tax evasion
Income Tax Department has alleged a tax evasion of about₹2,500 crore by Hinduja Global Solutions' (HGS).
An internal report, submitted earlier this month based on a probe carried over the past nine months, has charged HGS with the evasion.
Invoking the General Anti-Avoidance Rule, tax authorities have charged the company merging with a loss-making entity subsequent to divesting its healthcare business at a gain with the purpose of avoiding tax.
The HGS has denied receipt of any demand notice.
«Concerning the said M&A transaction, queries were raised in last year's IT survey, and suitable answers and documents were furnished, backed by the opinions of legal and tax experts. Since then, we have not received any such alleged demand notices,» a spokesperson for Hinduja Global Solutions Limited said.
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