Income tax notice slapped on Ramdev's trusts

NEW DELHI: Yoga guru Ramdev's trusts have lost their exemption from payment of Income Tax and have been slapped a notice of Rs 58 crore demand on the sale of their ayurvedic medicines.

The I-T notice, for the assessment year 2009-10, on Haridwar-based Patanjali Yogpeeth Trust, Divya Yoga Mandir Trust and Bharat Swabhiman Trust have been slapped on the income of Rs 120 crore which the department has held as "commercial activities", sources said.

Ramdev, who is leading a campaign against black money in the country, heads an organisation that runs the trusts which manages the manufacture and sale of ayurvedic medicines in India and abroad.

His trusts have been enjoying tax exemption under the provisions realting to charitable organisations for the last few years.

The I-T department, which conducted a "special audit" of all the businesses related to Ramdev has found that the sale of these medicines and other ayurvedic concoctions are a commercial venture and they should not be enjoying any tax exemption, the sources said.

Repeated attempts to obtain a response from Ramdev's spokesperson S K Tijarawala failed.