Talasani Srinivas Yadav says Race Club evading tax

Hyderabad: Commercial tax minister Talasani Srinivas Yadav revealed how the Hyderabad Race Club was evading taxes due to Telangana.

“The club has a turnover of crores of rupees, but they are evading commercial tax. There was no entry into the club for officials. This has been going on for decades. But the TS government last week conducted surprise raids with 60 officials and seized Rs 51 lakh in cash which was used for betting on horse racing,” the minister said.

The transactions were being recorded on plain paper, Mr Yadav said. He said the club has 26 bookies but raids were conducted only on six, which fetched Rs 51 lakh.

“There is a provision for the government to take over the club. Legal options are being explored for the takeover. If that happens, the transactions would be under government control and there would be no scope for tax evasion,” Mr Yadav added.

The Nizam government had sold 126 acres to the Hyderabad Race Club for a nominal price in 1956. The HRC happens to be the only Turf Authority of India to own the race course premises that houses, besides the race course complex, the tracks, stands, professional quarters, stables and parking lot among others.

Interestingly, Chief Minister K. Chandrasekhar Rao had announced more than once that the race course would be shifted from Malakpet to the city outskirts and the land would be used for public purposes like setting up educational institutes. That proposal has remained on paper.