The Income Tax sleuths raided four designers in Delhi on the 29th of May. They raided their showrooms, factories and even their houses.What’s surprising are the designers targeted, as if it seems that I-T sleuths just chase big names rather than follow real intel. There are overt names who are minting moolah and circumventing the law of not indulging in any cash transaction over and above Rupess 2Lakhs.
The Tax department should observe the designers bagging big-ticket wedding contracts and all those high-profile weddings happening abroad. Most designers selling from their stores have a computerised system managed by staff. The intel seems highly misplaced or misinformed. Let us see what comes out of it!
We who have some semblance of the happenings within the fashion industry in India are absolutely amusted by the targets of I-T raids. Designers who dress-up filmstar at her wedding and almost all the guests attending the wedding reception made a killing recently. Destination weddings are common these days because all the lavishness couldn’t be indulged in India because of no cash transactions beyond Rupees 2 Lakhs.
Most importantly, why aren’t the tax sleuths not checking out the books and operations of international luxury brands? They should be aware that these brands secretly extend the facility of offshore payments for handbags and watches worth millions.