Paisabazaar receives Income tax notice over vendor payment

The income tax department has sent notices to Paisabazaar, a subsidiary of PB Fintech, under the Prohibition of Benami Property Transactions Act, 1988, and section 142(1) of the Income Tax Act, 1961. This is part of a broader investigation into tax evasion by insurance companies and intermediaries, with an estimated evasion of Rs 30,000 crore.