Author: leannereitz4055
Income Tax Department conducts searches in Delhi and Haryana
The Income Tax Department carried out search and seizure operations on 09.11.2021 in the case of a Fintech company providing instant short term personal loan through Mobile App. The searches were conducted on the business and residential premises in Delhi and Gurugram. During the search, it was revealed that the company has been allegedly charging very high processing fee at the time of disbursement of loans. This results into effective higher burden of compensation on the borrowers. The said company is held by a group based in Cayman Island, ultimately controlled by an individual of a neighboring country. The company ... Read more