Income Tax Notices to Jagan-owned company

The Income Tax department has slapped show cause and demand notices to the tune of of Rs 122 crore to former Congress MP Y S Jaganmohan Reddy-owned Jagathi Publications (JPPL) for alleged mismatching amounts reported in company records.

Jagathi Publications publishes Telugu Daily-Sakshi and runs a TV news channel also named Sakshi.

Mr. Jagan reportedly paid Rs 84 crore as advance tax in September last year anticipating an income of Rs 500 crore.