Baba Ramdev trusts challenge IT notice
Ramdev`s trusts have challenged the action of the IT dept to slap a tax demand of Rs 58 crore on their income through sales of Ayurvedic medicines.
New Delhi: Yoga guru Ramdev`s trusts have challenged the action of the Income Tax department to slap a tax demand of Rs 58 crore on their income through sales of Ayurvedic medicines.
"Since inception we have been doing charity in terms of providing medical relief and other such activities to the needy. We have challenged the IT department`s notice at the Commissioner of IT (Appeals) office and we know that we will get justice," Ramdev`s spokesperson S K Tijarawala said in his reaction to the IT department`s action.
He said the department has said that the trusts have not been doing charitable work but "the world knows that we have been running hospitals and educational institutes for long."
"We will fight against this order and we have noting to hide," he said.
The IT department has slapped a notice of Rs 58 crore demand on the sale of the ayurvedic medicines by Ramdev owned trusts. The income has been assessed at Rs 120 crore for the assessment year 2009-10.