Hyderabad: The efforts put in by the Hyderabad Metropolitan Development Authority (HMDA) over the years have finally paid off with the authority set to get an income tax refund of Rs 228.03 crore from the taxes paid by it till date. The Income Tax department has issued the orders to this effect.
HMDA Commissioner B Janardhan Reddy Said Appeals Were Made To Income Tax Department To Consider HMDA As Not For Profit Organization And Last Year Tax Exemption Was Accorded To The Organization. Accordingly, The Department Has Issued Orders To Refund Rs 228.03 Crore From The Taxes Paid By The Organisation So Far, According To A Press Release. Reddy Complimented All The Officials, Who Worked Hard For Achieving The Benefit For The Organisation. As A Result Of Its Prolonged Struggle, HMDA Received Rs 228.03 Crore Refunds From The Income Tax It Paid, So Far. Assistant Income Tax Department Commissioner Issued A Statement In This Regard To Exempt HMDA From Income Tax. In A Press Note Issued By HMDA Commissioner Dr B Janardhan Reddy On Thursday, The Commissioner Stated That An Appeal Has Been Made To The Income Tax Department To Exempt HMDA From The Tax, As The Organisation Is A Non-Profit Under Section 12A Of Income Tax Act 1961, And That The Organization Received An Exemption After Its Efforts To Convince The IT Department. On The Occasion, He Thanked Those Who Strove For Exemption, Including Income Tax Department Commissioner.
