Baba Ramdev told to pay Rs 58-cr Income Tax
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Yoga guru Ramdev’s trusts have lost their Income-Tax exemption and have been slapped a Rs 58-crore notice on the sale of their ayurvedic medicines.
The I-T notice, for the assessment year 2009-10, on Haridwar-based Patanjali Yogpeeth Trust, Divya Yoga Mandir Trust and Bharat Swabhiman Trust has been slapped on the income of Rs 120 crore, which the department has held as “commercial activities”, sources said.
Ramdev heads an organisation that runs the trusts managing the manufacture and sale of medicines in India and abroad. His trusts have been enjoying tax exemption under the provisions regarding charitable organisations for the last few years.
The department conducted a “special audit” of all businesses related to Ramdev and found that the sale of these medicines and other ayurvedic concoctions are a commercial venture and they should not be enjoying any tax exemption, the sources said.
Meanwhile, Ramdev’s trusts have challenged the action. “Since inception we have been doing charity in terms of providing medical relief and other such activities. We have challenged the I-T department’s notice at the Commissioner of I-T (Appeals) office and we know that we will get justice,” Ramdev’s spokesperson S K Tijarawala told PTI.
He said “the world knows that we have been running hospitals and educational institutes for long”.
Sources said the I-T assessment would strengthen another probe into alleged foreign exchange violations against Ramdev’s trusts, being conducted by the Enforcement Directorate (ED). The I-T department has conducted the audit after getting the financial documents of investments and transactions from various banks that operate the trusts’ accounts. Sources said another regular audit of the income of his trusts and collection of TDS is underway. The ED, meanwhile, has detected a Rs 7 crore alleged contravention under the FEMA in the remittances made by Ramdev’s trusts and it is currently scrutinising documents in this regard. (PTI).
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