Dainik Bhaskar Raids, Tax Department Finds Rs.700 Cr Tax Evasion

dainik bhaskar raids

Income Tax officials raids on Dainik Bhaskar, a Media Group and an Uttar Pradesh-based news Channel Bharat Samachar  on Thursday.


The Tax department alleged that they found unpaid taxes on Rs700 crore of income over the past six years. In addition to this, the listed allegations on the media group are – violation of stock market rules and evidence of profits being siphoned off from listed companies.

These allegations came to light after two days after the raids on the Media Group. It is known that Dainik Bhaskar criticized the government. Apparently,  the criticism triggered the raids.

Statement of the Tax Department

“During the search, it was found that they have been operating companies in the names of their employees.

They used them for booking bogus expenses and routing of funds. Several employees names were used as shareholders and directors. However they admitted that they are unaware of such companies,” the tax department said.


The Tax department further added ,“Such companies have been used for multiple purposes namely booking bogus expenses and siphoning off the profits from listed companies, routing of funds so siphoned into their closely held companies to make investment, making of circular transactions etc.”

The tax department also found a violation of the stock market regulator Securities and Exchange Board of India (SEBI) for listed companies.

Findings by the Tax Department

A total of 26 lockers were found at the homes of promoters and key employees of the group. The tax department also found that the company is engaging in unrelated businesses. The transfer of funds in this is to the tune of 2,200 crore.

Tax department said, ”The listed media company does barter deals for advertisement revenues. Hence, the immovable properties are received in lieu of actual payments. There is evidence indicating cash receipts of the same.

Editor of Dainik Bhasker

However, the Editor of Dainik Bhaskar, Om Gaur said, “the raids were a surprise and a obvious attempt to suppress independent journalism. We won’t give in to pressure. We will stick to our journalism”

Bharat Samachar

The tax department also released a separate statement about the raids on Bharat Samachar. The Tax department claimed to seize documents and digital records that indicate “unaccounted transactions of about Rs200 crore. Income tax officials found cash of more than Rs3 crore. They also seized 16 lockers and kept is under restraint.

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