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Income Tax Dept. has eye on private hospitals, colleges and hotels

Income Tax Dept. has eye on private hospitals, colleges and hotels

Hyderabad: Private hospitals, private colleges and residential hotels are on the scanner of income tax Dept. The Dept. has started issuing notices under section 131 of Income Tax Act to these institutions. It is understood that after demonetization of old currency notes, people have started taking shelter under these institutions. After receiving confirmed information, Income Tax Dept. started the process of issuing notices to the owners of private hospitals, private hotels and private colleges. When it was come to be known that these institutions have started depositing huge amounts into their accounts, investigation started. They deposited crores of rupees claiming that it is an accounted money. IT officials told that the bank accounts of 2nd and 3rd quarters of these institutions would be checked. There are reports that in the hospitals where old currency notes have not been accepted, deposited crores of rupees in their accounts. It was claimed that these amounts are the receipts from the fees collected from 95% of patients. IT Dept. is making an attempt to know the truth after finding out the details from Medical Council of India about the average intake of the patients in these hospitals. The managements of these hospitals would be instructed to furnish the details of the patients admitted in their hospitals. It is a fact that the demonetized currency was not at all collected from the patient, how it is possible to deposit such huge amounts. It is also a fact that most of the hospitals did not accept demonetized currency.

Authentic sources revealed that in order to convert black money into white, the managements of some private hospital did not accept demonetized currency.

The college managements which had not deposited even Rs. 20 lakh in their accounts, have started depositing crores of rupees now. It is reported that most of the private colleges in South India belong to political leaders. They have deposited their black money in college accounts. According to the information received by IT Dept. the colleges which had not shown the accounts of Rs. 5-10 lakh, are now showing the accounts for Rs. 10-15 crore in the third quarter of the financial year. All these amounts are being deposited after 8th November. These reports confirm that these colleges used to keep their income concealed or they are trying to help others to make their black currency white. There are some colleges which have been paying advanced salaries for 6 to 8 months to their employees.

IT officials also confirmed that the tourists business is very low these days but the hotel managements are depositing crores of rupees in their accounts. Intelligence Agencies have reported that number of tourists has come down and the hotel owners are also saying that their hotel rooms are vacant but it is a very pleasant surprise that the same hotel managements have deposited crores of rupees in their accounts. All such institutions are getting notices from IT Dept. to review the sources of their income.

–Siasat News