Focus denies I-T exclusion to VTU with review impact
May 3 () The Center has denied pay charge exclusion to the Karnataka-based Visvesvaraya Technological University (VTU) with review impact from 1999 and requested that the varsity get a court course in such manner. In 2000, the VTU had connected for exception from assess on its pay under the area 12A and gifts under 80G of the Income Tax Act. The varsity had got the duty exclusion just on gifts, not on its salary. The issue was considered up important until the I-T division in 2014-15 had grabbed the VTU's financial balances with Rs 441 crore and forced a punishment of Rs 127 crore. After much influence, the VTU was given the assessment exception on pay with impact from 2015-16, yet the state has been requesting so with review impact. A few portrayals were made to the Center. Indeed, even the state boss clergyman had talked about the issue with the Prime Minister. The issue was talked about again yesterday at a gathering with Finance Minister Arun Jaitely and Karn...