Representational image. (IANS)
Jaipur: The Income Tax Department has detected a large-scale financial scam in Jaipur in which a Chartered Accountant has been accused of diverting about ₹2,395 crore (₹23.95 billion) from India within three years through fraudulent tax compliance forms.
A case has been filed against Chartered Accountant Abhishek Jain at Patrakar Colony Police Station on a complaint made by Mintu Lal Meena, Deputy Director (Investigation) of the Foreign Assets Investigation Unit (FAIU), Jaipur.
It has been stated by Patrakar Colony SHO Kavita Sharma that the inquiry has found that Jain had fraudulently issued 3,168 Form 15CB certificates, which are mandatory under the Income Tax Act for foreign outward remittances, for the said period of 2021 to 2024.
These illegal transfers took place under the names of 40 fictitious companies. The fraud was exposed following the search operation initiated by the Income Tax department throughout the country on August 18. Further, a survey carried out by the Foreign Investigation Wing at the premises of Jain’s firm based in Jaipur, which ended on August 22, revealed that incriminating papers about these fake payments have been seized.
The forged certificates were used to transfer considerable amounts of money from one corporate entity to another individual and to other profiles located in various states such as Rajasthan, Maharashtra, West Bengal, Odisha, Uttar Pradesh, and Madhya Pradesh. The police said that an ongoing investigation is being conducted to determine further details.
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