Koda told to pay Rs.1,200 crore in income tax dues

Jan 02, 2012 |

IANS

Ranchi

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Former Jharkhand chief minister Madhu Koda, who is in jail since 2009, has been asked by the Income Tax (IT) department to deposit Rs.1,200 crore dues, a source in IT department said on Monday.

"The assessment wing of IT department found that Koda amassed assets worth of Rs.3,300 crore. He has been asked to deposit income tax of Rs.1,200 crore," said the source.

The multi-million rupee money laundering scam surfaced in 2009 when the IT department and the Enforcement Directorate raided 69 places across the country, including houses of Koda.

The sources said that of his Rs.3,300 crore illegal assets, Koda invested nearly Rs.400 crore in Dubai.

Koda could appeal to the Income Tax commissioner against the notice demanding tax dues, they said.

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