Trident’s Manufacturing Units Faces Income Tax Raids
It is reported that more than 40 personnel are working at the Budhni facility in Madhya Pradesh alone, at the time of the raid
The Income Tax Department raided the Trident Group, conglomerate dealing in yarn, home textiles, paper and stationery, chemicals and adaptable power into potential financial irregularities on Tuesday.
Authorities are concurrently conducting investigations in a number of places. It is also reported that more than 40 personnel are working at the Budhni facility in Madhya Pradesh alone, at the time of the raid. The I-T Department also raided Trident’s manufacturing units and offices located in Punjab and Madhya Pradesh.
Trident’s production facilities in Budhni in Madhya Pradesh and Barnala, Dhaula and Ludhiana in Punjab, are the targets of raids. Trident maintains manufacturing facilities in Barnala and Dhaula, as well as a corporate office in Kitchlu Nagar in Ludhiana.
Authorities are anticipating ensuring compliance with tax laws and predicting that the income tax raids would reveal information about the Trident Group’s financial records and activities.