Increase in wealth of TRS MLAs under taxmen’s lens
Sources have confirmed that nobody from the Opposition has received such notices.
Hyderabad: The local income-tax office has issued notices to around 40 MLAs, all belonging to the TRS, demanding explanations for the increase in the value of their movable and immovable assets. These MLAs include those in the state cabinet and the TRS’ top brass.
Sources have confirmed that nobody from the Opposition has received such notices.
The income-tax investigation team studied the affidavits filed by the legislators before the Election Commission in 2014 and compared them with the affidavits submitted ahead of the Assembly elections last year. Those legislators whose records reflected a large difference in their I-T payments and assets are the ones who have been issued the notices, an official said.
This newspaper inquired with at least 10 elected representatives from Karimnagar, Medchal, Mahbubnagar, Wanaparthi, Adilabad, Asifabad, and Khammam districts, who confirmed receiving the notice.
Notices were issued to those whose incomes were found to have increased tenfold over a span of 4 years, since the previous election. The Income Tax department has asked the legislators to submit annual records explaining their source of income and legitimate reasons for the increase in their income. The MLAs have been given time to respond to the notice.
It is learnt that many legislators are seeking the assistance of their accountants and consulting chartered accountants to prepare their explanation.
According to the affidavits submitted, the highest increase in assets (movable and immovable) has been noted in the case of the Nagarkurnool MLA Marri Janardhan Reddy at Rs 160 crore, followed by the former finance minister Etela Rajender at Rs 42.41 crore, TRS working president K. T. Rama Rao, Parkala MLA Dharma Reddy, Wardhannapeta MLA A. Ramesh, and Chief Minister K. Chandrasekhar Rao.