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I-T dept raids Hero Motorcorp premises

I-T dept raids Hero Motorcorp premises

I-T dept raids Hero MotoCorp premises in Delhi, Gurugram | The News Minute

 

The Income Tax Department is conducting raids on multiple premises of Hero Motorcorp as part of a tax evasion investigation against the country’s largest two-wheeler automobile manufacturer, officials said Wednesday morning.

 

Offices and residential premises of the promoters including chairman and CEO of the group Pawan Munjal in Gurugram, Haryana, Delhi and few other locations are being covered under the raid, they said.

Hero MotoCorp Income Tax raid IT multiple premises Pawan Munjal live  updates | India News – India TV

A team of officials of the department are looking at financial documents and other business transactions of the company and its promoters, they said.

 

A response from the company is awaited.

 

Hero MotoCorp became the world’s largest two-wheeler manufacturer in 2001, in terms of unit volume sales in a calendar year, and has maintained the title for the past 20 consecutive years.

Income Tax Department Raids Hero MotoCorp Premises - BW Businessworld

Till date, it has sold over 100 million units across domestic and international markets.

 

Led by Pawan Munjal, the company has presence across 40 countries spanning Asia, Africa, and South and Central America.

 

The company continues to have a leading position in the domestic two-wheeler segment.Massive I-T raid on Hero MotoCorp premises including Pawan Munjal's  residence | The Financial Express

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