How a Sebi crackdown led to tax declarations of over Rs5,000 crore2 min read . Updated: 20 Oct 2016, 08:15 AM IST
Stockbrokers, market operators, penny stock company promoters and such entities being investigated by Sebi declared at least Rs5,000 crore of illegal income
Mumbai: The Securities and Exchange Board of India’s (Sebi) crackdown on entities that evaded taxes by showing bogus long-term capital gains on penny stocks was one key reason for the success of the income declaration scheme, said two income tax officials.
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