• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Hyderabad, March 31 The Chairman of the Eenadu Group of publications, Mr Ch. Ramoji Rao, today appeared before the officials of the Income Tax Department here.

The development is in response to the summons issued by the IT department to Mr Ramoji Rao in a case relating to violation of provisions of the Income-Tax Act by Margadarsi Financiers.

Margadarsi Financiers, an I-T official said, was summoned for alleged violation of Section 269 (SS) of the Income-Tax Act that prohibits mobilisation of deposits above Rs 20,000 in cash. Officials said Section 271 (D) of the Act would enable the department to levy penalties to the tune of 100 per cent once the violation was established.

Earlier in the month, the Managing Director of Margadarsi Financiers, Ms Sailaja Kiron, was also questioned on the matter.

More Stories on : Income Tax

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Rains damage 90% crop in AP grape yards

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line