BBMP BANK ACCOUNTS FROZEN BY THE INCOME TAX DEPARTMENT ON MONDAY


The notorious BBMP is in the news again as usual for its mismanagement and non compliance. The income tax department on Monday froze 40 bank accounts of the Bruhat Bangalore Mahanagara Palike (BBMP) for failing to respond to a tax notice of Rs 31.5 crore in connection with transfer development rights (TDR) certificates issued by the civic agency for having neglected and ignored to respond to the notices of the Income Tax Department, as BBMP felt and behaved in the same manner with all other departments, but got the BOOT from IT department. But, the balance in all the accounts were just Rs2 Crores only.

Nothing serious happened, as usual, some cheques got bounced and BBMP is not bothered about it.