Reliance First Family gets Income Tax notices

Mumbai: Members of Mukesh Ambani family reportedly got notice from Income Tax Department of Mumbai unit. The notice was served under Black Money Act.

Notices were served to Mukesh Ambani’s family members

According to the report published in Indian Express, the notices were sent to Nita Ambani, wife of Mukesh Ambani and their three children.

IT investigation started after government received information of 700 Indian entities and individuals who are having accounts in HSBC Geneva. Later, Indian Express and Swiss Leak also conducted investigation.

HSBC Geneva bank accounts

The investigation of Indian Express revealed details of 14 HSBC Geneva bank accounts with balance of $601 million

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It is also reported that Income Tax investigation report and notices claimed that Ambani Family members are mentioned as ‘ultimate beneficiaries’ of Capital Investment Trust, one entity of these 14.

What Reliance spokesperson says?

When Indian Express sent a mail to Reliance, Company’s spokesperson denied all the content of the mail.

It may be noted that the notices were served based on the investigation conducted by IT Department.

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