Rs 273 cr tax evasion notice on Manyata Tech Park

Bengaluru, June 20 (IANS) The Bruhat Bengaluru Mahanagara Palike (BBMP) on Monday served a Rs 273 crore property tax evasion notice on leading IT facility Manyata Tech Park.

“Manyata tech park has to pay property tax at Rs 10 per square foot as it is a centralised air conditioned building complex but they have been paying only Rs 8 per square foot,” a BBMP official told IANS.

The resulting unpaid difference of Rs 2 per square foot along with penalty and interest has amounted to Rs 273 crore for the calculated years from fiscal 2008-9 to 2015-16.

Reports said that BBMP officials have seizedg movable property from the main office of Manyata tech park on Monday in this connection.

Meanwhile, one of the partners of the huge IT park has declined to comment on the development.

“The matter is in the court, we do not want to comment,” said Veeranna Reddy, a local landlord and partner-owner of the establishment where thousands of IT employees work for major Indian and foreign firms.

–IANS

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