Saturday, May 21, 2022 | Last Update : 07:17 PM IST

  Metros   Mumbai  31 May 2019  Mhada seeks govt help to clear debt

Mhada seeks govt help to clear debt

THE ASIAN AGE. | HARSHADA PARAB
Published : May 31, 2019, 2:13 am IST
Updated : May 31, 2019, 2:13 am IST

Mhada’s accounts department has prepared a draft proposal which will be submitted to the state government soon.

Mhada has Rs 2,000 crore in its kitty, of which Rs 1,800 crore is payable to the Income Tax department.
 Mhada has Rs 2,000 crore in its kitty, of which Rs 1,800 crore is payable to the Income Tax department.

Mumbai: The Maharashtra Housing and Area Development Authority (Mhada) has sought help from the state government to deal with the Income Tax department, which has asked the housing body to pay Rs 1,800 crore tax. Mhada’s accounts department has prepared a draft proposal which will be submitted to the state government soon. Mhada has Rs 2,000 crore in its kitty, of which Rs 1,800 crore is payable to the Income Tax department. The state government had recently asked the housing body to pay Rs 200 crore to the Railways in connection with the land acquisition for the Dharavi Revamp project. Mhada is struggling to save its Rs 1,800 crore. The Mhada is struggling to sort out the issue from 2009 when the income tax department had asked it to pay the income tax for the first time. Till date, Mhada has paid some amount as part of the procedure to avoid the income tax action against the authority. An official from Mhada’s Accounts department said that the proposed plan is ready but they are still trying to shorten the draft.  “This way how Mhada will have their own fund to start new projects?” an officer asked.  

Tags: mhada