Income Tax Department Serves Notice to PDP MLA Waheed-ur-Rehman Para in Kashmir

Services

Stock Market Masterclass

Option Trading with CA Abhay

Equity Trading with CA Abhay

FNO Stocks with CA Abhay

Equity Investment with CA Abhay

Income Tax Department Serves Notice to PDP MLA Waheed-ur-Rehman Para in Kashmir

Team Finance Saathi

23/Dec/2024

What's covered under the article:

Income Tax notice served to PDP MLA Waheed-ur-Rehman Para in Srinagar.
Verification of Para's election expenditure and financial records.
Para's statement on facing investigations and clarifying no wrongdoing.

Income Tax authorities have issued a notice to Peoples Democratic Party (PDP) legislator Waheed-ur-Rehman Para, who represents Pulwama in South Kashmir. The notice, served on December 22, summoned Para to appear before the Income Tax (I-T) office in Srinagar to submit his books of accounts and financial documents. The summons was issued under Section 131 of the Income Tax Act, which mandates the production of financial records for verification purposes.

The case is linked to Para's affidavit submitted during the Jammu and Kashmir Assembly Elections, 2024. The affidavit indicated that Para spent just over ₹14 lakh on his election campaign. Of this amount, approximately ₹12 lakh was received from loans, gifts, and donations from individuals, companies, firms, or associations. The notice also references the total value of Para's moveable and immoveable assets, which amounted to more than ₹2.5 crore, including inherited agricultural land valued at ₹2 crore.

In response to the notice, Waheed-ur-Rehman Para stated that he would attend the summons and clarify the situation. He assured that there was no wrongdoing on his part, noting that he had undergone multiple investigations in the past without any issues. Despite this, Para expressed frustration with what he described as "endless investigations."

This development comes amid a series of investigations into Para's financial dealings, raising questions about transparency in the election process and political financing in Jammu and Kashmir.

The Upcoming IPOs in this week and coming weeks are Solar91 Cleantech, Anya Polytech, Rosmerta Digital, Indo Farm, and Avanse Financial. The Current active IPO is Unimech Aerospace, Ventive Hospitality, Senores Pharmaceuticals, Carraro India, Transrail Lighting, Mamata Machinery, DAM Capital, Sanathan Textiles, Concord Enviro and Newmalayan Steel. For more details on upcoming IPOs, you can visit our page at and stay updated with the latest news on IPO updates on . Join our for regular Stock Market Trading and Investment Calls by - SEBI Registered Research Analyst & for Regular Share Market, News & IPO Updates. Start your Stock Market Journey and Apply in IPO by opening a Free Demat Account in .Best IPO to Apply Now - IPO List 2024, Latest IPO, Upcoming IPO, Recent IPO News, Live IPO GMP Today - Finance Saathi Top News Headlines - Share Market News, Latest IPO News, Business News, Economy News - Finance Saathi Trading with CA Abhay Telegram Channel CA Abhay Varn Finance Saathi Telegram Channel Choice Broking FinX.

Services

Income Tax Department Serves Notice to PDP MLA Waheed-ur-Rehman Para in Kashmir

Related News