IT Deptt raids Upcharya Hospital, detects Rs 40 lakh unreported transactions
The Income Tax Department conducted a raid at Upcharya Hospital located in Katangi area of the city and unearthed around Rs 40 lakh unaccounted cash transactions. Raids were carried out early on Tuesday and continued for several hours at the hospital premises as well as the residences of owners and administrative officials connected with the hospital.
According to sources, a team of officers from the Income Tax Department swooped down on the premises as part of an operation based on inputs regarding suspected tax evasion. During the scrutiny of hospital records and documents, officers reportedly found several irregularities and omissions indicating concealment of income and unreported transactions using cash.
Preliminary findings revealed that the hospital had not disclosed transactions amounting to nearly Rs 40 lakh in its books of accounts. Department sources said that transactions for a number of surgeries and treatments were conducted without proper billing or documentation. Officers seized relevant documents and digital records for further examination.
The operation is seen as part of the tax department's broader drive to ensure compliance among private hospitals and to nab tax evaders in the healthcare sector. The department is likely to issue notices for further investigation against the hospital and individuals involved after evaluation of the seized documents.
It is noteworthy that strict surveillance has recently been maintained over private medical institutions in the city after reports of widespread irregularities in tax disclosures. More such raids are expected in the coming days as part of the crackdown.