Tax department probes unlisted share transactions, tax evasion in OFS sales

Q: How long will it take to read this news story?

The story "Tax department probes unlisted share transactions, tax evasion in OFS sales" has 484 words across 20 sentences, which will take approximately 3 - 5 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Tax department probes unlisted share transactions, tax evasion in OFS sales" was covered 16 hours ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 291 news stories per day. It's most recent story was published 4 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #26612507</li><li>URL: https://chronographically.beamstart.com/news/tax-department-probes-unlisted-share-1740983924297</li></ul>

Business Standard Logo Business Standard 16h ago

Tax department probes unlisted share transactions, tax evasion in OFS sales - Business Standard

Quick Summary:

One of the key concerns is the possibility of cash against cheque deals, where an investor pays for shares through banking channels but later receives cash in return, effectively laundering undisclosed income.

The outcome of this investigation could have significant implications for future OFS transactions and the taxation of unlisted shares in India.

Officials suspect that some cases may involve ‘benami’ (proxy ownership) arrangements, where the actual investor might not have had the financial capacity to buy the shares independently.