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Andhra Pradesh
I-T survey unearths Rs. 6-crore undisclosed income
KURNOOL,
JAN. 6.
The Income Tax Department has unearthed an undisclosed income of Rs. 6 crores and collected a tax of Rs. 2 crores during the current financial year.
According to official sources, the department has carried out an extensive survey and collected Rs. 85 lakhs from builders, Rs. 40 lakhs from schools and educational institutions, Rs. 40 lakhs from contractors, Rs. 8.5 lakhs from doctors and Rs. 16 lakhs from the District Cooperative Central Bank (DCCB). Most of the educational institutions were technically run by societies but the buildings were owned by promoters, who had leased the premises to the society on monthly rent. But the rent was not shown as income of the individuals, which attracted the tax.
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