37 bank accounts of Madras University frozen due to alleged tax dues
According to a Daily Thanthi, the over 150-year-old education institution has failed to pay taxes from the financial years 2017-18 to 2020-21, which works up to Rs 424 crores.
University of Madras
CHENNAI: Citing alleged tax dues, the Income Tax department has frozen 37 bank accounts of the University of Madras on Saturday.
According to a Daily Thanthi, the over 150-year-old education institution has failed to pay taxes from the financial years 2017-18 to 2020-21, which works up to Rs 424 crores.
Due to this development a logjam is expected in paying salary to professors and crediting pension amount. The university authorities are making efforts to retrieve the acccounts.