Income-Tax raids at 20 schools in Tamilnadu

Chennai: Sleuths of Income-Tax (I-T) Department today carried out raids for the second consecutive day at 20 schools owned by Velammal Educational Trust in Tamilnadu.

The raids are being carried out based on a tip off that the institute had been evading tax. Around 250 I-T men formed 50 teams fanning out to Madurai, Coimbatore and Chennai to raid properties owned by the trust.

Velammal Educational Trust owns educational institutions including schools and colleges in Kanchipuram, Sivaganga, Madurai, Theni, Karur and Chennai.

They also have engineering and medical colleges and have nearly one lakh students studying in their 50 plus institutes and have 10,000 staff.
I-T officials also searched the properties including houses and offices belonging to the owners and family members in Mogappair.

Sources say, the I-T sleuths inspected their accounts and seized documents. They suspect tax evasion for years. Heavy police security was provided.

NT Bureau