Raids on doctors carried out by the income tax department, across the state got disclosures of over Rs 35 crore of unreported income from professionals covered in the region. The taxmen had searched premises of two hospitals involving three doctors in Maharashtra. A sum total of Rs 35 crore declared cumulatively will be added to their income and taxed accordingly, said sources following the development. With the amendment that introduced the Pradhan Mantri Garib Kalyan Yojana (PMGKY), a rate of at least 60% will be levied on income caught after a raid. The normal rate of tax is 30%, said sources.
Unless there is a cash haul, PMGKY amnesty scheme, under which 49% tax is paid, cannot be availed. The scheme does not apply to assets other than cash and deposits. PMGKY is only applicable to cash and deposits. Usually, only a small portion of unaccounted wealth is kept in cash, said sources.…
