Karnataka businessman jailed for Rs 7.35 cr tax default

Bengaluru, Feb 16 : The Income-Tax department arrested and jailed a Karnataka businessman for defaulting on paying Rs 7.35-crore as income tax arrears and interest despite reminders, said an official on Saturday.

"The defaulter was arrested and produced before the Tax Recovery Officer here on Friday, and sent to the city central jail for six months for failing to pay his tax arrears," said the department in a statement here.

The official, however, did not name the defaulter and the nature of his business, except that he is from Tumakuru, 70 km northwest from here.



Source: IANS