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Income Tax raid at medical and allied colleges reveals Rs 80 crores cash

Income Tax raid at medical and allied colleges reveals Rs 80 crores cash

Puducherry /Chennai: A massive raid conducted by Income Tax officials across  30 premises belonging to major colleges in Chennai and Puducherry has led to a recovery of Rs 80 crores in cash. The colleges that were raided include medical colleges, engineering colleges and one nursing college and have now been identified as Mahatma Gandhi Medical college, Rajiv Gandhi Engineering College, Kasturbai Nursing college in Puducherry and Sathya Sai Medical College in Chennai.

The raid was reported to have been tipped by angry parents who wanted their money back in the wake of common entrance test, NEET coming into force from this year.

Taking a cue from complaints that the college had collected several crores as capitation fees from students admitted for the MBBS and postgraduate courses, about 50 I-T officials under Deputy Commissioner of Taxes launched a raid on the Mahatma Gandhi college and simultaneously raided the research institute and the engineering college run by Sri Balaji Educational and Charitable Public Trust, reports Indian Express.

A total of 120 income tax officials raided the home of a PRO of the Pondicherry-based colleges and recovered Rs 40 crore packed in 38 cardboard boxes. Another Rs 40 crore was retrieved from the premises of Sathya Sai Medical college. The raid is reported to be  still underway, with raids being carried out at the staff and authorities of the colleges.

Source: with inputs
4 comment(s) on Income Tax raid at medical and allied colleges reveals Rs 80 crores cash

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  1. You have to blame the parents who pay for the substandard education.

  2. This is only the tip of the Ice-berg

  3. There should be total ban on cash transaction , as a matter of fact with immediate effect 1000, 500 & 100 Ruppes Notes should be taken back by the government. And make in India ie Digital India by making it mandatory to use Debit cards and credit cards. This way we can prevent the menace of counterfeit notes coming to our country. It requires courage, conviction, CARE for the country. Empty speechs makes no sense. ACTIONS speak louder than words…….

  4. Use only plastic money ie Debit cards and credit cards instead of currency Notes, for routine transmission let us coins. Currency bills beyond Rupees 100, should be banned with immediate effect. I