TEAM HERALD
CANACONA: Income Tax sleuths on Thursday visited some Sarvajanik Ganesh Mandals in Canacona in connection with payment of gift tax for prizes offered on donation coupons.
According to reliable sources, the Income Tax sleuths visited two prominent Sarvajanik Ganeshosthav Mandals in Canacona and reportedly met the respective organizing committees.
Rumours were spread that the IT officers had raided the two Sarvajanik Ganeshosthav Mandals and had seized money from the Mandals committees.
However, sources informed Herald that the IT sleuths had only met the committee members and directed them to visit the income tax office at Panjim with details of prizes offered on donation coupons.
The officers reportedly intimated the two committees that a 30% gift tax is applicable on prizes offered at the festival.
The two prominent Sarvajanik Ganesh Mandals have offered cars and two-wheelers as prizes on donation coupons to raise funds and it is believed that each Mandal has given away prizes worth Rs 12 lakh and above.
It was, however, not yet known whether the Mandals selling the coupons or the prize winners were to pay the gift tax to the Income Tax department.
