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IT Dept disclose Money Laundering racket linked to Chinese firms.

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4 years ago

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The Income Tax department on Tuesday said searches at premises of certain Chinese entities in India have revealed a money laundering racket involving shell companies.

The search has led to detection of more than 40 bank accounts which were created in various dummy entities at the behest of certain Chinese individuals. Over a period, these accounts were used for transactions worth more than ₹1,000 crore. A subsidiary of a Chinese company and its related concerns have taken over ₹100 crore bogus advances from shell entities for opening retail showrooms in India, the tax department said in a statement.

The search was conducted after the department received tip off that these entities and their Indian associates were involved in money laundering and hawala transactions through shell entities, the department said. The role of a couple of bank employees has also been detected, the department said, without identifying the Chinese companies or the people involved.

The development comes after India banned dozens of Chinese mobile phone applications and barred Chinese firms from participating in government tenders in the aftermath of the border clash with the neighbour in June that left about 20 Indian soldiers dead.

“Incriminating documents in respect of hawala transactions and laundering of money with active involvement of bank employees and chartered accountants has been found as a result of the search action,” the tax department statement said. Evidence of hawala transactions involving Hongkong and US dollars have been unearthed and further investigations are on, it said.

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Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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