Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
General »
Open DEMAT Account in 24 hrs
 Don't fall for fake notices! How to verify your income tax communication
 I decided to shift to the new tax regime. Will I lose benefit on interest income of my PPF account?
 Income Tax Return: How to prepare for hassle-free tax compliance? Here is a 10-point checklist
 Filing ITR On Your Own? Salaried Taxpayers Need To Know These Things
 New vs Old Tax Regime: How is one taxed under the New Regime and how to make a switch between the two regimes?
 New tax regime vs old tax regime: What's point at which tax outgo is the same in both regimes? Check salary and deduction levels
 Advance Tax Paid, Do You Still Need To File ITR? Check Details Here
 Centre seen to have met FY24 gross tax target
 6 income tax rules that salaried should know as financial year 2024-25 starts from today
 How to calculate income tax on stock market gains along with your salary?
 Moonlighting for Additional Income? Know Its Tax Implications

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 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting