Man earning Rs 7,000 slapped with tax notice for Rs 134 cr transactions from account

NEW DELHI: A young man named Ravi Gupta from Madhya Pradesh has been asked to explain transactions worth Rs 134 crore from his bank account. The Income-tax department issued a notice to Gupta who claimed that he earned Rs 7000/month as salary in 2011-2012, the same year when an account opened against his PAN number in Mumbai showed a transaction of Rs 134 crore.

Self-investigation by Gupta revealed a nexus between a Gujarat based diamond company and absconding diamantaire Nirav Modi and Mehul Choksi. also wanted in the Rs 13,500 crore Punjab National Bank fraud case.

“I was hardly 21 when these transactions were made. I had not been to Mumbai or Gujarat in 2011 or 2012. I was then working with a private firm in Indore, earning Rs 7,000 a month, which is non-taxable,” Gupta said, according to media reports.

Gupta is now seeking measures to resolve the case.

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