NEW DELHI: The income tax department on Tuesday said it conducted a nationwide field verification exercise, including in some border districts, against a group of entities and fictitious charitable trusts, alleged to have sent “large” amounts of funds outside the country over last three years.The ongoing exercise covered approximately 394 entities, including 117 located in land-border states, and 36 professionals, CBDT said. An official said mastermind of these operations are being identified.The exercise has revealed that these entities, many of which were not filing returns, had very small turnovers. “The turnovers had no apparent correlation with the large amounts of money being remitted abroad. They also did not appear to match the stated purpose of remittances, such as payment of freight, import of software, or import of consulting services. Further ground-level intelligence revealed that these entities were not operating from the addresses declared by them,” CBDT said in a statement.
