Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: cpt :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: empanelment :: due date for vat payment :: TDS :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit
 
 
« General »
 Aadhaar is must for income tax returns if you have one; Here's how you can file it online
 Will it be a tax haven above the law?
 Your mutual fund investment tax efficient? Here are 3 steps to ensure utmost efficiency for your portfolio
 Finally a goods and services tax. But what lies ahead?
 Tax May Rise On Outbound M&As, Indian Mncs’ Investments
 Filing income tax return? Do remember to claim benefits on your reimbursements
 Banks will have a hard slog ahead to get GST-ready
 Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956
 Introduce indemnity clauses with suppliers on tax compliance: Expert
 While filing tax in India, NRIs do not have to report overseas assets
  Clarification regarding applicability of Section 16 (1)(a) of the Companies Act. 2013 with reference to cases under corresponding provisions of Companies Act. 1956 -reg.

Income Tax officials: Lilavati trustees got crores as kickbacks
April, 13th 2011

Lilavati Hospital trustees have received few hundred crores of rupees as kickbacks in the purchase of medicines, income-tax (I-T) officials said on Tuesday.

The officials said it would take time to calculate the exact amount received, but the department was examining the tax exemption granted to the hospital which is run by a charitable trust.

A senior I-T official said that the Bandra Reclamation-based hospital purchased medicines at discounted prices. "But the hospital paid the entire amount by cheque.

The difference in price was returned to some trustees in cash," the official said. The money has not been accounted for, the official said.

The department had searched 29 premises linked to the hospital for tax evasion on Monday.

I-T officials said they were collecting details of payments and also the vendors. "We procured a list of vendors from the laptops seized," another official said.

The officials stated that the employees said the transactions were at the instance of Chetan Mehta, a trustee. "It is early to say that this amount was taken out of the country," the officials added.

A spokesperson for the hospital trust said it was an "absolute falsehood" that Chetan Mehta got colleagues to collect kickbacks on his behalf. There is a long-standing dispute among the trustees.

Niket Mehta, managing and permanent trustee of the hospital, said, "I welcome the move of the authorities, probing certain irregularities. It's a remarkable exercise of righteousness from the I-T department.

In fact, in the past, I had raised this arbitrary and unlawful functioning of the sub-committee in various forums, including the charity commissioner, which had failed to take note of it."

Delhi resident Harsh Raghuvanshi had filed a petition in the Supreme Court stating that some trustees had laundered money outside India. He said the trust received support from the state government and also got concessions in taxes and land rates, and was treated as a charitable trust, but was actually a tool for siphoning huge amounts generated from the public.

I-T officials said infighting among trustees would cause a problem while deciding on the tax liability. "We will decide on that later," an official said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions