📷 Image: Wikimedia Commons / Kamran sardar
Crime
Income Tax Serves Notices to 12 Punjab Rice Millers Over Suspected Money Laundering
✍️ Amar Ujala · Amritsar
🗓 05 Nov 2026, 08:01 AM
👁 21
The Income Tax Department has issued notices to twelve rice millers in Punjab, questioning irregularities in their accounts and probing possible money‑laundering activities.
The Income Tax Department has served formal notices to a group of twelve rice millers operating in Punjab. The notices seek clarification on alleged discrepancies in the financial records of the millers and signal a probe into possible money‑laundering activities.
According to the department’s communication, the authorities suspect that funds may have been manipulated to convert illicit earnings into legitimate revenue. The investigation focuses on whether the millers have breached tax provisions by concealing income or channeling black money through their businesses.
The affected millers have been asked to furnish detailed account statements, transaction records and any other documentation that can substantiate the source of their funds. They are required to respond within the stipulated time frame, after which the department will decide on further action, which could include penalties or prosecution.
This move forms part of a broader effort by tax officials to tighten scrutiny over agribusinesses that handle large cash flows, aiming to curb financial malpractices and ensure compliance with the Income Tax Act.
According to the department’s communication, the authorities suspect that funds may have been manipulated to convert illicit earnings into legitimate revenue. The investigation focuses on whether the millers have breached tax provisions by concealing income or channeling black money through their businesses.
The affected millers have been asked to furnish detailed account statements, transaction records and any other documentation that can substantiate the source of their funds. They are required to respond within the stipulated time frame, after which the department will decide on further action, which could include penalties or prosecution.
This move forms part of a broader effort by tax officials to tighten scrutiny over agribusinesses that handle large cash flows, aiming to curb financial malpractices and ensure compliance with the Income Tax Act.