I-T raids on institutes
The IT dept conducted searches on some pvt medical & mgmt institutions over allegations of charging illegal capitation fee & violation of rules related to tax exemption.
New Delhi: The Income Tax department on Friday conducted searches on some private medical and management institutions over allegations of charging illegal capitation fee and violation of rules related to tax exemption.
A team of more than 160 I-T sleuths searched the premises of three educational institutes located in the national capital, Gurgaon, Meerut, Agra, Noida and Greater Noida.
Sources said the searches began this morning and the department has seized some unaccounted cash and documents. The residential premises of senior officials of the institutes were also searched during the raids.
The department has found violation of conditions of exemptions granted to these educational institutes under the I-T Act and there were reports of huge capitation fee being charged by them from students and aspiring candidates.
The initial probe also found huge investments in purchase of land by these institutes which is being investigated. The searches are expected to continue till tomorrow, the