IIPM evades huge
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IIPM evades huge income, service tax
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IIPM evades huge income, service tax

A leading Delhi-based private business school, Indian Institute of Planning and Management (IIPM), has not paid income tax and service tax for the last two fiscal.

New Delhi, May 15 : A leading Delhi-based private business school, Indian Institute of Planning and Management (IIPM), has not paid income tax and service tax for the last two fiscal.

The Minister of State for Finance, S.S. Palanimanickam, said this in the Rajya Sabha today.

"The IIPM, New Delhi has not paid income tax in the last two assessment years, i.e. 2005-06 and 2006-07. Service tax paid by IIPM, New Delhi and its other associated companies, during last two years, is nil," he said.

He further said that IIPM has incurred an expenditure of Rs.17, 28,27,370 and Rs.31, 62,69,231 on advertisement for the financial years 2004-05 and 2005-06, respectively.

The source of funding of such advertisement is out of various receipts from activities carried out by IIPM as reflected in the Income and Expenditure statements, Palanimanickam added.

ANI

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