JNTU evades Rs 170-crore I-T, gets notice
A recent tax review also noted that Kakatiya Univer-sity of Warangal has not paid I-T to the tune of Rs 15 crore for 2016-18.
Hyderabad: The income-tax department has slapped a prosecution notice on Jawaharlal Nehru Technological University, Hyderabad, for not filing tax returns since its inception.
The JNTU, an autonomous body financially aided by the state government, has not paid income-tax to the tune of Rs 170 crore for financial years 2016-18. The amount will be higher if the previous year’s tax liability is taken into consideration. A recent tax review also noted that Kakatiya University of Warangal has not paid I-T to the tune of Rs 15 crore for 2016-18.
JNTU and Kakatiya University were established in 2008 and 1978, respectively. However, the I-T assessment shows that the university has not been filing I-T returns since its inception. This newspaper independently learnt that the two universities have not even obtained any approval for tax exemption nor are they registered under Section 12 AA.