Surat builder to pay tax on surrendered cash of Rs6000 crore

Surat,Nov14:A builder and diamond merchant from Surat , has surrendered cash of Rs. 6000 crore. If confirmed, he will also have to pay a sum of approx Rs. 5400 crore as tax on the money (30 % as tax, which is 1800 crore and 200% fine on the tax, which is another 5400 crore).

He is one of the richest builders and diamond merchant of India. He has also been in news various times for his charity works and expensive gifts to all his employees every year. This year in February, he donated Rs. 200 crore for the purpose of girl child education which won him respect throughout the state. He gifts his employees cars, flats, etc on the occasion of Diwali – the news of which have found place in newspapers many times. The most interesting fact about him is that he is the same man who had bought PM Modi’s much ‘controversial’ suit which had his name all over it.

Although this is an extremely high value surrender, various other cases of arrest, recovery and raids have come to the light after Modi launched a nationwide crackdown on unaccounted wealth and corrupt people. Here are some of the incidents of massive recovery of unaccounted wealth. Apart from recovery, there have been multiple instances where sacks full of torn notes, stacks of burnt notes and huge sum of money flowing in rivers have been found out.